RACING POST NOW IN IRISH HANDS - Trinity Mirror has sold the Racing Post to a group of Irish investors for £170m. Private equity firm FL Partners is the buyer.
The key men behind FL are former IBI corporate finance executives Peter Crowley and Neil Hughes. The paper's one-time editor, Dubliner Alan Byrne has been advising FL and is to take over as editor-in-chief.
Alan Byrne said the group had outmanoeuvred a number of other interested parties to win the deal.
He described the Racing Post as a 'bible' for horse racing people and the equivalent of the Financial Times for those interested in the sport.
Mr Byrne said the paper had a strong online presence and had the potential to grow in other international markets. He said he also hoped the paper would be even more popular in Ireland now that it was owned by an Irish group.
Mr Byrne explained that Sheikh Mohammed, who owns the licence for the brand, had suggested that four specified charities should benefit from the deal.
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DAIRY DELEGATES IN DUBLIN FOR CONFERENCE - Some 900 delegates from around the world are in Dublin for the next four days to talk milk and the international dairy market.
Noel Cawley, chairman of the Irish national committee of the International Dairy Federation, said the conference brought together 1,000 people from all over the world, who would discuss marketing and research and development.
He said increased consumption and shortages had combined to push milk prices up to 40% higher. He added that the use of grain for bio-fuel had also contributed to the increase in prices.
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CURRENCIES - The euro is worth $1.4255 and 69.6p sterling.
