LA firm increases Kingspan stake despite negative Grenfell publicity

Capital Group’s holding now stands at 5.32 per cent, worth more than €707 million at the current share price

This is despite a succession of negative headlines for the Cavan-based company arising out of the Grenfell Tower inquiry

The Capital Group, the trillion-dollar Los Angeles investment firm, has continued to build a sizeable stake in Kingspan despite the controversy over the Grenfell Tower inquiry.

Regulatory filings show that the Capital Group bought around €155 million-worth of shares, pushing its stake from 4.14 per cent to 5.32 per cent. Its total stake is now worth more than €707 million based on Kingspan’s closing share price on Friday of just over €73.

The giant investment ...