Tuesday 19 June 2018

Goodman understood to have bought stake in INM

Larry Goodman
Larry Goodman
Donal O'Donovan

Donal O'Donovan

Businessman Larry Goodman is understood to have bought a stake of just under 3pc in Independent News and Media.

The Louth based businessman is best known for his interests in the meat industry, including his ABP Food Group, one of Europe's biggest food processors, which last week signed contracts to supply beef to China.

The Irish Times reported that Mr Goodman had accumulated INM shares in recent weeks.

A spokesman for the billionaire declined to comment.

However, it is understood he may have been the main buyer when an unusually high 30 million INM shares traded on a May 16th, just ahead of INM's annual general meeting on the 18th.

INM has more than 1.3bn of shares in issue altogether. Any investor who holds more than 3pc of shares must declare their interest publicly via the stock exchange.

INM shares closed at 9.2 cents each on May 16.

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