Kerry Co-op drops Davy as broker of choice after probe

After the Central Bank’s investigation into Davy bond deal, co-op approached Goodbody to handle placement of shares on market

27th June, 2021
Kerry Co-op drops Davy as broker of choice after probe
Davy Stockbrokers has endured a difficult year after a Central Bank investigation found it guilty of double-dealing on a bond transaction. Picture: RollingNews

Kerry Co-op, the farmer-controlled investment company which holds 12 per cent of the shares in Kerry Group, has dropped Davy Stockbrokers as its broker of choice following the Central Bank of Ireland investigation earlier this year that resulted in the stockbroking firm being fined €4.1 million.

Last Thursday, Kerry Co-op sold just over €77 million worth of Kerry Group shares on the open market through Goodbody stockbrokers, which is a major change for the farmer co-op...

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