One51 hits €290m as Desmond outbids CapVest

15th August, 2015

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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