Property developer Liam Carroll has been confirmed as the buyer of Dermot Desmond's 21.5 per cent stake in Greencore that the financier sold for €170 million.
In a notice to the stock exchange today NCB Stockbrokers who handled the deal confirmed that 42 million shares were bought by investment companies controlled by Mr Carroll.
The named companies were named as Bloomburg Limited (26,821,490 shares, 13.62 per cent) and Gainsco Limited (15,652,761 shares, 7.95 per cent), with the balance held by Aurum Nominees.
It is thought that Mr Carroll is interested solely in Greencore's property holdings, which have attracted attention following the closure of the company's sugar factories in Mallow and Carlow.
A recent valuation of the company's property by estate agents Finnegan Menton estimated its former Irish Sugar factory in Carlow was worth €120 million. This could rise to €150 million if the site is rezoned, the valuers believe.
The Mallow sugar processing plant is believed to be worth about €30 million.
The firm also has a site in Thurles, Co Tipperary, estimated to be worth €5.5 million, while its former Irish Sugar depot in Wellington Bridge, Co Wexford, is worth €1.5 million.
Greencore also owns significant property in Littlehampton, near Gatwick airport.