€47.5m in FBD shares sold

FARMER Business Developments, the biggest shareholder in insurance company FBD Holdings, sold off a 6.14% stake in the company yesterday in a move which grossed €47.5 million.

Farmer Business Developments’ board of directors is like a Who’s Who? of the Irish agriculture sector, peppered with the names of high flyers in the Irish Farmers Association.

The directors of Farmer Business Developments include Michael Berkery, Joe Rea, Michael Morley and Patrick O’Keeffe.