Canadian billionaire Prem Watsa has described his €70 million rescue of the insurance company FBD as another potentially lucrative bet on Ireland’s economic recovery.
Watsa made a killing on the bailout of Bank of Ireland and pumped the money into the insurer in the form of a convertible bond that pays an annual interest rate of 7 per cent.
“This investment underlines our belief in the strength of Ireland’s ongoing economic recovery and in...
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