Desmond ups stake in Barlo

Dublin: Dermot Desmond has upped his stake in the plastics group Barlo again.

Mr Desmond’s Dublin-based investment vehicle IIU bought 50,000 shares in Barlo, which has received a takeover offer from its management, yesterday costing him €21,000.

The 42 cents per share paid by Mr Desmond is 2c higher than the takeover offer. The financier now holds just under 14.5% of the company. To block the management buy-out at the current price Mr Desmond would need to acquire 20% of Barlo’s shares.