Page last updated at 10:40 GMT, Tuesday, 15 July 2008 11:40 UK

Quinn family buys stake in bank

Sean Quinn
Mr Quinn's first business venture in 1973 was a small gravel pit

Sean Quinn and his family have bought a 15% stake in the Anglo Irish Bank worth about 500m euros.

They said they regard it as a long-term investment "with significant opportunity for capital growth".

It is thought to be a private purchase outside of the Fermanagh businessman's range of company interests. These interests include insurance, concrete and glass manufacturing, pubs, hotels and a power station in County Louth.

Last year, the Quinn Group made profits of 433m euros - an increase of nearly a third on 2006. It also bought the health insurer BUPA Ireland.

Mr Quinn and his wife and children own the companies outright and are believed to have amassed a personal fortune of nearly 4bn euros.

The Quinn Group employs more than 5,000 people throughout the world and have recently expanded into India and Russia.

Mr Quinn began in business in 1973 at a small gravel pit on the family farm in Derrylin, County Fermanagh.




RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific