Anglo Irish to back Davy in €300m buyout

Anglo Irish Bank is hotly tipped to back Davy Stockbrokers in its €300 million management buyout, even though the stockbroker has no formal financing yet for its bid, writes Ed Micheau.

16th September, 2006

Anglo Irish Bank is hotly tipped to back Davy Stockbrokers in its €300 million management buyout, even though the stockbroker has no formal financing yet for its bid, writes Ed Micheau.

Executives at Davy are believed to have avoided putting financing in place in order to preserve confidentiality as they prepared to move on the company.

The three main executives behind the deal are Tony Garry, Kyran McLaughlin and Brian Davy.

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