LA firm pays €186m to grow Kingspan stake as Grenfell fallout continues
The Cavan-based insulation firm has performed strongly this year, but its move to sponsor Mercedes Formula 1 team has sparked fresh controversy
The Capital Group, the trillion-dollar Los Angeles investment firm, invested €186 million to further grow its already sizeable stake in Kingspan.
The investor, which has more than $2.6 trillion in assets under management, raised its share of the Cavan-based insulations giant from 6.08 per cent to 7.07 per cent on December 6 at €100 per share, regulatory filings showed.
Kingspan’s share price has since risen to €105. As previously reported by this newspaper, the company ...