Monday February 24, 2020

Goldman Sachs bets big on beleaguered Flutter

The move by the giant investment bank comes as major US and British hedge funds have boosted their short trades against the company formerly known as Paddy Power Betfair

Barry J Whyte

Chief Feature Writer

@whytebarry
26th January, 2020
Goldman Sachs has bought a €447.7 million stake in Paddy Power Betfair, renamed Flutter Entertainment

The giant US investment bank Goldman Sachs has bought a €447.7 million stake in Irish betting company Paddy Power Betfair, recently renamed Flutter Entertainment.

Goldman, which is a broker to the company, now holds 5.32 per cent of the shares. At its most recent share price of €105.50, the company had a market capitalisation of €8.2 billion.

The investment comes as a raft of major US and British hedge funds have ramped up their short trades...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Spinal injuries group is challenging executives to spend 'a day in my wheels’ learning about the difficulties faced by wheelchair users in the workplace

Aaron Rogan | 1 day ago

Founders of Foods of Athenry put their faith early in vegan and gluten-free food, and this year they expect a turnover of €3.5m

Aaron Rogan | 1 day ago

Regulator forces Irish Water to get tough on firms so that they fix leaks

Michael Brennan | 1 day ago