Pageant Holdings has tripled its money by selling its entire shareholding in One51 to financier Dermot Desmond’s International Investment and Underwriting (IIU).
The Furlong family’s investment vehicle has, according to stockbroker sources, acquired shares in One51 at an average price of 60 cent a share.
Last week it sold out to Desmond for €1.85 share for a total of €36.3 million.
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Tom Maguire: Tax changes we make now could help business for years
The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures