US fund spends €38m on Glanbia shares

Trillion-dollar US investment fund the Capital Group has splashed out more than €38 million to push its stake in dairy ingredients company Glanbia to more than 8 per cent.

Capital Group’s stake is now valued at just over €340 million, having previously spent more than €20 million in February to buy another major chunk of the dairy company’s shares.

Last month, Glanbia saw its earnings fall by 7.3 per cent to €123.7 million ...