Greencore awaits High Court ruling

 

The High Court will issue its ruling today on the judicial review taken by food company Greencore against the Government's allocation of the EU's sugar industry compensation package.

Greencore received €98 million of the €145 million package but says it should have received €130.5 million.

Shares in the company surged 5.8 per cent yesterday to €5.45 after property developer Liam Carroll confirmed he had increased his stake in the food company to 29.51 per cent.

Mr Carroll's stake is now only fractionally short of the 29.9 per cent threshold for a mandatory bid for the business.

Today the shares were trading €5.30.