Coolmore's Magnier could win big in €450m Salamander deal
Coolmore stud boss John Magnier may be about to land another big gamble. Not at Ascot or Newmarket – but in the sea of Thailand.
Magnier has been linked to Floriline SA, a company that owns a near 3 per cent stake in €450m-valued, FTSE-listed Salamander Energy, which announced that it was in play at the start of the month. The company said that it had received "preliminary expressions of interest" in a sale.
Shares in Salamander have spiked over the last two weeks, valuing the Floriline stake at around €12m – which is about double the record price paid for a yearling.
The Swiss-based company is understood to have been an investor in Salamander before it floated in 2006. It took advantage of boomy prices when offloading around €7.5m worth of shares last year. Magnier doesn't discuss his investments, his people say.
All in all, it's been a rather good investment for the mysterious backers of Floriline. Magnier, of course, has form when it comes to calling the stock markets. He made an absolute fortune when flipping a stake in Manchester United to the Glazers back in 2005 and also made good money when investing in sausage skin maker Devro. His other listed investments are also bubbling away nicely, with a 22 per cent stake in €2.1bn-valued British pub group Mitchells & Butler getting set for a big dividend following last week's results.
Sunday Indo Business