TVC Holdings sells off part of UTV stake

Thursday 27 February 2014 08.33
TVC Holdings' Executive Chairman Shane Reihill
TVC Holdings' Executive Chairman Shane Reihill

Investment holding company TVC Holdings has said it has sold 7.6 million shares in UTV Media for a total consideration of €22.1m. 

TVC first invested €27.3m in 2008 to purchase an 18% shareholding in UTV.  

The company said that today's share sale, including dividends received to date, has enabled it to recover the full cost of its entire UTV investment.

TVC still holds 9,640,262 shares in UTV representing a shareholding of 10.05% valued at €29.2m.