Business World

Thursday 26 April 2018

BMD is bought out by management


THERE has been a management buyout of Cork-based engineering company BMD, which was formerly part of the Bowen Group. The new owners of BMD are five members of the management team -- John Allen, Paul Keegan, Nicholas Lynch, Frank O'Keeffe and managing director Mike Walsh.

Gastro-tourism is 'boosting revenues'


THE celebrated Irish chef who cooked for Queen Elizabeth II this year said yesterday that gastro-tourism has contributed to an increase in revenues at his Chapter One restaurant in 2011. Ross Lewis is chef patron at the Michelin-starred restaurant on Dublin's Parnell Square and he said yesterday that the restaurant recorded "a marginal profit" in the 12 months to the end of February last.

Alkermes approves $1bn Elan deal


SHAREHOLDERS at US-based pharmaceutical group Alkermes have overwhelmingly approved a $1bn (€717m) acquisition of Elan's drug technology (EDT) unit following a vote yesterday. The deal will see Alkermes pay $960m for the drug technology business, while Elan will retain a 25pc stake in Alkermes plc. That firm, which will float on the Nasdaq but be domiciled in Ireland, will represent the combination of Alkermes's existing operations and the EDT unit.

Irish Independent

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