O'Reilly holds 4% of Valentia
Friday, 22 June 2001Documents to be published early next week by the Valentia consortium, which is buying Eircom, will confirm Tony O'Reilly holds a 4% stake in the consortium.
Under takeover regulations the consortium will publish information confirming that the ESOT will buy a 29.9% stake in the company, but in combination with warrants held in Valentia their stake will be just under 31%.
However the ESOT will only have 25% of the voting rights in the company, with 4% held by O'Reilly and the remainder by the equity partners backing Valentia.
A Valentia spokesman said Warburg Pincus, Providence Equity Partners, and Soros Private Equity were the major backers of Valentia, with Goldman Sachs taking a minor stake.
He said Tony O'Reilly was involved in Valentia in a personal capacity, and will be the company's non-executive chairman.
It is expected the document containing this information - known as the 2.5 document - will be published on Tuesday.
