Organo takes 6.6% stake in UTV Media

Organo Investments, a company controlled by Irish investors Neill Hughes and Peter Crowley, has bought a 6

Organo Investments, a company controlled by Irish investors Neill Hughes and Peter Crowley, has bought a 6.6 per cent stake in Northern Ireland broadcaster UTV Media.

Organo purchased 6.3 million shares in Belfast-based UTV for 116 pence (€1.45) each, the company said in a statement today.

Mr Hughes and Mr Crowley run FL Partners, an investment company that owns the Racing Postnewspaper in the UK.

Shares in UTV Media were trading unchanged at €1.40 in Dublin at 2.32pm.

Bloomberg