Falling share prices spur buyouts

FALLING share prices led to a record year for company buyouts in Ireland with deals hitting €5bn in 2002, lead by the €3.5bn delisting of Jefferson Smurfit.

The Jefferson Smurfit deal was the largest buy-out ever recorded in Ireland and realised €3.5bn, making it the second biggest deal in Europe last year, behind the divestment of French Company Legrand for €5bn.

The €1,116m taking private of Green Property was the eighth biggest buyout deal in Europe in 2002 and the second largest public to private deal.