Friday 19 January 2018

McCanns sold stake prior to Greencore €300m bid

Nick Webb

Nick Webb

THE wealthy McCann dynasty which controls the Fyffes banana empire offloaded its entire stake in €300m-valued Greencore before last week's takeover approach was announced.

Last week Greencore revealed it had received a buyout approach. Shares soared 15 per cent on news of the talks.

The Fyffes family investment firm Balkan is listed as holding no shares in Greencore after September 16 -- before shares spiked. Balkan had been a shareholder for more than 20 years.

Shareholders in Greencore include former Anglo Irish Bank director Fintan Drury. He holds 5,066 shares. Former Kerry group boss Hugh Friel -- now chairman of Tourism Ireland -- is a shareholder as is Joseph Brennan of Brennan's Bread fame.

Sutton Park -- the northside Dublin school that has the highest fees in the country -- is also a shareholder.

But it's the investors who no longer own shares in their own name that are best known. They include Enterprise Minister Richard Bruton, David Norris and Gay Byrne. Top business names no longer listed as holding shares in their own name include beef baron Larry Goodman, former One51 chief Philip Lynch, Aryzta chief Owen Killian and Denis O'Brien's Baycliffe.

Former AIB chief executive Eugene Sheehy and former Anglo Irish Bank number two Willie McAteer were also shareholders.

Sunday Indo Business

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