Entrepreneur Mr Denis O'Brien has won control of golf course operator PGA European Tour Courses after increasing his offer by 10 per cent to £35.2 million sterling (€58.6 million).

Before the increased offer, Mr O'Brien's Murryhill company owned 41 per cent of PGA ETC, but the increased recommended offer has won irrevocable acceptances from Mr Mark McCormack's IMG Group and PGA European Tour Properties. These and other acceptances mean that Mr O'Brien now owns or has acceptances of over almost 83 per cent of PGA ETC shares. The remaining shares are held by about 2,000 individual shareholders. It had been anticipated that Mr O'Brien would have to increase his original 50p sterling a share offer to gain control of PGA ETC and the increase to 551/2p sterling a share was in line with market expectations. PGA operates several golf courses, including one in Portugal which is leased from Mr O'Brien's Quinta do Lago operation.