Davy writes down 60% of Ringsend site

Davy Stockbrokers has told clients who invested in the €413 million Irish Glass Bottle deal at Ringsend in Dublin that it has written down 60 per cent of its investment following a revaluation.

24th January, 2009

Davy Stockbrokers has told clients who invested in the €413 million Irish Glass Bottle deal at Ringsend in Dublin that it has written down 60 per cent of its investment following a revaluation.

While the fall in the value of its investment is obviously a disappointment to Davy’s clients it is believed that the new, more realistic market valuation will at least allow investors clarity on the value of their investments.

The move will...

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