IAWS set to profit from toll deal

SPECULATION the Government is to pay up to €500 million to buy out the M50 toll contract from NTR puts a different perspective on the €130m investment by IAWS Co-op in the group.

If the deal goes ahead, IAWS Co-op will see the value of its investment rise by up to €160m, its estimated share of the €500m the Government is allegedly prepared to pay to take full control of the M50 toll road around Dublin.

At that price the €160m gain to IAWS would more than pay for the €130m Philip Lynch, chief executive IAWS Co-op, spent in buying up shares in NTR from early January 2005.