Monday June 1, 2020

Finnish windfall for Smurfit brothers

Michael Smurfit and his brother Dermot collected £55.6 million (€88.4 million) selling shares in their Finnish paper mill company when it floated on the London Alternative Investment Market on Friday.

12th May, 2007

Michael Smurfit and his brother Dermot collected £55.6 million (€88.4 million) selling shares in their Finnish paper mill company when it floated on the London Alternative Investment Market on Friday.

Shares in Powerflute Oyj rose 4.5 per cent on their first day’s trading to close at 115p valuing the group at £101 million. Powerflute was bought by a consortium led by Dermot Smurfit and backed by his brother Michael.

Dermot sold £27.2 million (€39.8...

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