Fyffes property company to begin trading May 15

At today’s extraordinary general meeting, Fyffes gave investors details of its new property company, Blackrock plc.

Blackrock will be a separately-listed company, with 60% direct ownership by existing Fyffes shareholders and 40% indirect through Fyffes investment.

It will have initial net assets of €207m, and properties in Ireland and the UK.

Developments planned include a residential project at Edinburgh Food Market and retail schemes in Navan and Belfast.

Blackrock’s chairman is Carl McCann, with Robert Knox acting as managing director.

Blackrock shares are expected to be admitted to the AIM and the IEX on May 15.