O’Brien supports bid for Statoil

BUSINESSMAN Denis O’Brien is one of the the main financial backers of Topaz Energy’s bid for Statoil’s Irish operations.

Topaz, a group headed by Ion Equity chief executive Neil O’Leary, already owns Shell Ireland. The business is expected to sell for around €200 million. Statoil and Shell have around 30% of the Irish petrol market. Mr O’Brien is estimated to have a 20% stake in the Topaz consortium.