Rare Public Appearance By The Cooler

16 Sep 2016 | 02.27 pm

Rare Public Appearance By The Cooler

Paul Coulson drums up IPO interest in Ardagh Group

16 Sep 2016 | 02.27 pm

Packaging tycoon Paul Coulson made a rare public appearance at an Institute of Directors function in Dublin today, allowing photographers a rare opportunity to snap the low-profile businessman.

Coulson’s Ardagh Group is said to be eyeing up a flotation in 2017, and investor interest in Ireland is being tweaked through PR efforts and the chairman stepping into the public limelight.

 

Repro Free: Friday, 16th September 2016. Mr. Paul Coulson, Chairman of Ardagh Group today addressed the Autumn Lunch of the Institute of Directors in Ireland (IoD) in the DoubleTree by Hilton Hotel in Dublin, sponsored by Amrop. Pictured are Paul Coulson, Chairman, Ardagh Group and Des Lamont, President, IoD. Picture Jason Clarke

 

Ardagh recently sold $1.7 billion of dollar and euro-denominated bonds to refinance some higher-cost loans and return €270m of capital to shareholders. Coulson owns about one-third of the Ardagh Group equity.

Coulson, 64,  told the IOD audience that the Brexit vote will damage foreign direct investment into Britain and he was pessimistic about prospects for the UK economy in the medium term.

 

Repro Free: Friday, 16th September 2016. Paul Coulson, Chairman of Ardagh Group today addressed the Autumn Lunch of the Institute of Directors in Ireland (IoD) in the DoubleTree by Hilton Hotel in Dublin, sponsored by Amrop. Picture Jason Clarke

 

Ardagh Group, which makes bottles and cans, had revenue of €2.5 billion in the first half of 2016. The operating profit of €201m was swallowed up by the net finance charge of €196m for the period.

Total liabilities on 30 June 2016 amounted to €11,483,000,000.

 

Photos: Jason Clarke

 

 

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