Pratt waves goodbye to 5m windfall as drinks firm pulls plug on flotation

BUSINESSMAN Maurice Pratt has missed out on a 5 million euro windfall after the drinks group which he heads pulled the plug on a stock market flotation yesterday.

Cantrell and Cochrane’s 2,000 workers have also lost out because of the postponement as they were to get 20m euro under the initial public offering.

The company was to begin trading its shares next week, but management decided to postpone the flotation because of falling stock markets.