Farmer Business Developments are beign asked to vote to buy hotels business for a further €48.5m.
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Next Thursday 22 October, almost 4,500 farmer shareholders in Farmer Business Developments (the original FBD co-op) will be asked to vote on a proposed purchase of FBD Holdings plc’s entire shareholding in FBD Property and Leisure Ltd (FBDPLL). Developments, under the chairmanship of Padraig Walshe, is proposing to invest €48.5m and take on new borrowings of €25m to fund the deal. The proceeds will be used to strengthen FBD Holdings and prepare for new Solvency 2 regulations, after it made a €96m loss in the first half of this year.
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Next Thursday 22 October, almost 4,500 farmer shareholders in Farmer Business Developments (the original FBD co-op) will be asked to vote on a proposed purchase of FBD Holdings plc’s entire shareholding in FBD Property and Leisure Ltd (FBDPLL). Developments, under the chairmanship of Padraig Walshe, is proposing to invest €48.5m and take on new borrowings of €25m to fund the deal. The proceeds will be used to strengthen FBD Holdings and prepare for new Solvency 2 regulations, after it made a €96m loss in the first half of this year.
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