Green energy entrepreneur Eddie O’Connor’s Mainstream Renewable Power has lined up $620 million (€517 million) of bank funding for a key project in Chile, underpinning the group’s value ahead of an expected sale in the coming months, writes Joe Brennan.
Another company raising money is hotels group Dalata which has has placed €94.4 million worth of shares as it builds up a fund to allow it take advantage of opportunities it expects will arise as a result of Covid, write Peter Hamilton and Ciara O’Brien. It comes as the Pat McCann-led group reported a loss of €70.9 million in the first half of the year.
The Government, on the other hand, is opting not to raise money, activating the temporary reduction in the standard VAT rate from 23 per cent to 21 per cent promised in the July stimulus plan at what is expected to be a cost of €440
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