Housebuilder Abbey’s executive chairman, Charles Gallagher and his family have increased their stake in the company to 94.5 per cent. A spokeswoman for Abbey declined to comment while a spokesman for Fidelity wasn’t immediately available for comment. The market value of Abbey stands at €313 million, more than double that of Gallagher Holdings’ €145 million takeover bid in 2012. The offer period ended in September that year, with the family owning almost 73 per cent of the company. He added, however, that market conditions in its main market, the UK, were “patchy”.

Source: The Irish Times January 15, 2020 17:15 UTC