Tuesday 16 January 2018

Davy advising bidder in Greencore deal


DAVY Stockbrokers is advising the unnamed private equity firm bidding for Greencore. The readymeals-maker said last week that it had been approached by an unnamed firm and was in talks to sell the company. While the firm remains unknown, Davy is known to be advising the PE group on a possible sale. In the past week, the spotlight has turned on private equity firm Terra Firma as a possible bidder. Greencore would not comment last night. Terra Firma is not thought to be close to making a bid.

Dividend due at Aer Lingus 'in future'


AER Lingus shareholders have overwhelmingly approved a new resolution that could clear the way for dividend payments in the future. Chairman Colm Barrington said he couldn't guarantee when shareholders could expect a dividend but said the board was focused on boosting the company's profits in the years ahead.

Groupon shares up as site starts trading


Groupon shares jumped nearly 50pc as the online daily deals site began trading on Wall Street yesterday. Groupon shares were listed on the Nasdaq at $20 (€14.50) a share and immediately rose to $29.95.

Corzine steps down from MF Global


JON Corzine, one of Wall Street's best-known stars, has stepped down as MF Global's chairman and chief executive after his bets on European debt drove the futures brokerage into bankruptcy.

BoI discount level could be just 12pc


BANK of Ireland could take a hit of just 12pc on its €10bn deleveraging programme, putting the bank well ahead of stress test estimates, stockbrokers Davy said yesterday. BoI recently announced it had offloaded €5bn of assets at an average discount of 9.5pc. Davy said it believed the discount on the remaining €5bn could be about 15pc. "This implied 12pc discount (on the €10bn) is well below the average level envisaged by the Central Bank."

Irish Independent

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