Mr John Reihill has acquired a 100 per cent stake in Tedcastle Holdings, the private company owned by his family. In what was described as an amicable agreement, the Reihills will separate their business interests with Mr John Reihill taking control of Tedcastles and all subsidiaries for an undisclosed sum. His brother, Frank, and nephew, Shane, will concentrate on their other business interests, including Trinity Venture Capital and Hibernia Capital Partners. An announcement last night said Mr John Reihill and his family had invested and would continue to invest in both Trinity and Hibernia.

Tedcastle Holdings operates 140 petrol stations and 100 Londis Top Shops.In further changes at the company, Mr John McGuckian has resigned as independent chairman. Two other directors, Mr Tony O'Reilly Jnr and Mr Charles Ortell, have also stepped down. Mr Shane Reihill has resigned from the board and all of his executive responsibilities as joint managing director. Mr John Reihill has joined the board as chairman and Mr Patrick Dillon Malone has been appointed a director. Mr Raymond Reihill, son of Mr John Reihill, has been appointed group chief executive with immediate effect.