Tuesday 20 March 2018

Bonderman-linked trust sells €10.6m Ryanair shares

David Bonderman
David Bonderman

Donal O'Donovan and Colm Kelpie

A FUND linked to Ryanair chairman David Bonderman sold €10.6m worth of shares in the airline last week.

Notices posted to the Irish Stock Exchange reveal that the shares were sold everyday from Tuesday to Friday.

It comes ahead of today's extraordinary general meeting (egm) where shareholders will be asked to approve the purchase of 175 aircraft from Boeing.

The last sell-off by the 1985 Bonderman Children's Trust on Friday, and posted to the stock exchange yesterday, netted €4.47m after 658,063 shares were sold at €6.80 per share.

Bonderman, a US businessman who heads up private equity investment group TPG Capital, made headlines in late 2011 after he and his family sold off €14.5m worth of shares in the airline.

Bonderman has been on the board of Ryanair since 1996. In November last year he reportedly held a lavish party to celebrate his 70th birthday with 700 guests at the Wynn Resort in Las Vegas.

Paul McCartney was the surprise musical guest. It followed his 60th birthday bash at the Hard Rock Hotel and Casino in Las Vegas, when he hired the Rolling Stones and John Mellencamp to perform.

Last Tuesday the trust sold €2.8m worth of shares. The following day €2.1m were sold, then €1.2m on Thursday and €4.47m on Friday.

Mr Bonderman co-founded TPG, formerly Texas Pacific Group, a private equity investment firm in 1992.

He also serves on the boards of directors of the following public companies – CoStar Group and car giant General Motors.

Irish Independent

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