Riverdeep payout for Quinlan clients

Clients of Quinlan Private will be among those to benefit from the $175 million refinancing deal for educational software company Riverdeep, which was agreed last week.

30th July, 2005

Clients of Quinlan Private will be among those to benefit from the $175 million refinancing deal for educational software company Riverdeep, which was agreed last week.

Under the deal, shareholders are to receive a cash payment for one-third of their holdings, yielding significant profits for clients of Quinlan Private and Davy Stockbrokers, which are significant shareholders.

Riverdeep arranged the $175 million “pay-in-kind'‘ loan as a means of returning cash to its shareholders by buying back a...

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