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Stuart Pearson (Ireland)

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Stuart Pearson (born c.1984)[1] is an Irish businessman whose name has been linked to a number of investment rumours in 2008–9.

Biography

According to inteviews, Pearson was born in Arklow where his family lived in Templerainey[2] and owned a Burmah petrol station.[3] By 1998 they moved to Carlow where they own 'The Foundry' nightclub.[3] (In fact, The Foundry is part of the Dinn Rí Hotel complex[4] owned by the McLoughlin family.[5]) Pearson qualified as an accountant in Portlaoise c.2008.[2] He moved with his wife and two daughters to County Kilkenny,[6] where he rented a house in Goresbridge[7] and ran a convenience store in Graiguenamanagh.[6][7] He was attacked in a robbery on the shop in January 2008.[8][9] In May 2009, The Irish Times reported that he had separated from his wife, who claimed to have no knowledge of his business dealings; and that locals in Graiguenamanagh were surprised by the reports of Pearson's extreme wealth.[7]

Purported investments

According to inteviews, Pearson inherited money from relatives' land in 2003.[6][3][10] This was held by trustees till 2008,[6] who invested it in property, mostly commercial property, in Ireland and Britain.[6][1][11] Pearson Holdings and Acquisitions was reported to have property in counties Carlow, Wicklow, Dublin, and north Kildare.[12] It reportedly paid £340m in 2004 and £600m later for retail property in London;[10] bought some units in Grafton Street, Dublin;[10] and earned €600m[13] or €800m[14] from an investment in New York City.

In October 2008, Pearson was reported to have been negotiating to buy Taggart Holdings, a housebuilding firm based in Northern Ireland[13] which was in administration with debts reported at €150m.[6][1][11] In December 2008, it was reported that he might invest in Aer Lingus,[14] and subsequently that he might launch a takeover offer of up to €900m, funded from a war chest of €1.5–2b.[15] In 2009, he was reported to be planning to build a retirement village in Arklow, and to start an insurance company.[2] He is reported to support many charities in Carlow and Kilkenny, and in April 2009 was producing a DVD showcasing investment opportunities in the region.[16][17]

References

  1. ^ a b c O'Halloran, Barry (30 October 2008). "Interest shown in Taggart properties". The Irish Times.
  2. ^ a b c Coleman, Deborah (24 December 2008). "Arklow highflyer in Aer Lingus bid". Wicklow People. Retrieved 2009-05-15.
  3. ^ a b c "Arklow C.B.S.: Not all doom and gloom". Wicklow People. 21 January 2009. p. 1. Retrieved 2009-05-15.
  4. ^ "Dinn Rí Entertainment Complex - profile". Retrieved 2009-05-15.
  5. ^ "Days of town- centre parking at Plás na Saoirse numbered". Carlow Nationalist. 27 Fenruary 2008. Retrieved 2009-05-15. {{cite news}}: Check date values in: |date= (help)
  6. ^ a b c d e f Keys, Laura (29 October 2008). "Young gun investor eyes property giant". Kilkenny People. Retrieved 2009-05-15.
  7. ^ a b c Parsons, Michael (15 May 2009). "'Billionaire investor' is sweet-shop owner". The Irish Times. Retrieved 2009-05-15.
  8. ^ "Shopkeeper attacked in terrifying robbery". Carlow People. 9 January 2008. Retrieved 2009-05-15.
  9. ^ "'Give us €10,000... we have your wife and two daughters'". Carlow Nationalist. 16 January 2008. Retrieved 2009-05-15.
  10. ^ a b c Mulligan, John (25 October 2008). "Hotshot developer eyes Taggart businesses". Irish Independent.
  11. ^ a b O'Halloran, Barry (7 November 2008). "Potential Taggart buyer contacts PwC". The Irish Times.
  12. ^ "Bid for Taggart Holdings". Carlow People. 28 October 2008.
  13. ^ a b Mulligan, John (13 November 2008). "Pearson to bid soon for Taggart". Irish Independent.
  14. ^ a b O'Halloran, Barry (18 December 2008). "Pearson Holdings emerges as possible Aer Lingus investor". The Irish Times.
  15. ^ Mulligan, John (20 December 2008). "Pearson to battle Ryanair in outright bid for Aer Lingus". Irish Independent.
  16. ^ Coogan, Naoise (17 April 2009). "Millionaire businessman to make DVD to attract new business". Carlow First. Galway Advertiser. Retrieved 2009-05-15.
  17. ^ Hurley, Sean (27 April 2009). "Worldwide promotion for Kilkenny". Kilkenny Alive. Retrieved 2009-05-15.

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