Arklow highflyer in Aer Lingus bid
ARKLOW NATIVE and multimillionaire businessman Stuart Pearson has this week confirmed that his company is in the early stages of negotiations with Aer Lingus in a bid to secure a sizeable stake in the company.
Mr. Pearson (24) said that although discussions are at a very early stage and that nothing has been agreed it is something his company Pearson Property and Acquisitions is seriously looking into.
It is not yet known how large a stake Mr. Pearson is interested in buying but reports suggest it will be enough to rule out any takeover bid that Ryanair has in mind.
Having inherited a substantial figure in recent years Mr. Pearson, a qualified accountant set up his company in Dublin and within a short period became very successful due to a number of lucrative property deals.
In recent months it was reported that Pearson Property and Acquisitions showed a serious interest in taking over ailing building company Taggart Holdings which went into receivership recently with an estimated €150m owed to the banks.
A native of the Templerainey area, Mr. Pearson left the town over ten years ago and qualified as an accountant in Portlaoise.
Still a regular visitor to the town he says he is very fond of the area and still has many friends there.
His almost weekly visits, may have opened up the area to him as a viable location for investment as he confirmed that his company is in the planning stages of developing a retirement village on the Wicklow side of Arklow not too far from the rugby grounds.
It is understood that if approved, the state of the art complex will include a medical unit and independent sheltered housing.
Also in the works for Mr. Pearson is the establishment of a new insurance company also planned for 2009.
Speaking to the Wicklow People Mr. Pearson said that Arklow is still a very special place to him despite the fact that he has not lived in town for many years.
'I am very fond of Arklow especially having grown up here. It has seen many changes in recent years. An issue that needs to be addressed is whether or not the councils are doing enough for the traders. There is plenty happening in the town, however, and people are trying their best to keep their busi