In Short

A round-up of today's business news in brief

US fund manager increases stake in Bank of Ireland

The largest holder of ordinary shares in Bank of Ireland, the activist US fund manager Harris Associates, raised its stake in the bank to 6.05 per cent this week.

The Chicago-based firm held more than 9 per cent of the bank’s ordinary shares earlier this year but later reduced its stake.

It has been building up its stake over recent weeks.

Court case to focus on Millennium Park deal

One of the largest property deals transacted in the State will be the subject of a case scheduled to come before the Commercial Court on Monday.

Dermot O’Rourke, a co-vendor of the Millennium Park business park and adjoining land near Naas, Co Kildare, has issued legal proceedings against Tom Considine, Paddy Sweeney and Gerry Prendergast, who bought the park and adjoining land from Mr O’Rourke and businessman Gerry Conlan in a €315 million deal.

Paving firm director fined over pensions

A director of a Co Limerick paving company has been fined €500 plus an additional charge of €1,600 arising from costs, following failure to comply with a request from the Pensions Ombudsman for documentation.

The case relates to a complaint by a now-deceased employee of John Patrick Goode, director of Tudor Paving Contractors, who alleged that pension contributions had been deducted from wages but not remitted to the Construction Workers Pension Scheme.

Celesio acquires Alchemy Healthcare

German drug distributor Celesio has bought contract sales firm Alchemy Healthcare for an undisclosed sum.

It will combine Alchemy Healthcare with its Pharmexx Ireland unit, which offers personnel and marketing services for the pharma industry.