Datalex has completed a €25m share sale, with elements subject to shareholder approval
Billionaire was left to take up 85% of a portion of the €25 million that was earmarked for small shareholders
Mr Desmond, a long-time investor, has been a consistent provider of finance to Datalex since it was rocked five years ago by an accounting scandal and, subsequently, the Covid-19 pandemic. “This is a milestone event for the business,” he said of the share sale, pitched as global airline traffic is set this year to top pre-pandemic levels and as airlines continue to invest in their ecommerce technology. “We look forward to the future with great optimism.”
The Irish Takeover Panel agreed three years ago to waive a normal requirement that Mr Desmond make a mandatory takeover offer for the remainder of Datalex, after he pushed through the key 30 per cent stake threshold as a result of another €25 million equity raise. It agreed late last month that he could increase his stake to as much as 52 per cent without triggering an offer, subject to shareholder approval.
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