Clan­william backer Eli Global in US fed­eral in­ves­ti­ga­tion

Irish Independent - Business Week - - FRONT PAGE - Gavin McLough­lin

spe­cial div­i­dend. Later in a re­vised state­ment it said that fol­low­ing dis­cus­sions with Green­core man­age­ment, it would only re­ject one res­o­lu­tion.

“Some in­vestors ag­i­tate for changes in cor­po­rate struc­ture... of­ten our anal­y­sis of such changes does not sup­port the con­clu­sion that such struc­tural changes are in the best fi­nan­cial in­ter­ests of share­hold­ers in the short or long-term,” Po­laris said.

“We have de­cided to pub­licly an­nounce our views in this in­stance to as­sist the ad­vis­ers and other share­hold­ers in their ad­vice, anal­y­sis, and vot­ing de­ci­sions. We also em­pha­sise our strong re­la­tion­ship with Green­core man­age­ment and the mu­tual re­spect we have for each other.”

Green­core said the sale “has re­ceived strong sup­port from its in­sti­tu­tional in­vestors to-date”.

“The com­pany con­tin­ues to en­gage closely with share­hold­ers in or­der to ad­dress any ques­tions,” it added. A KEY fi­nan­cial backer of Ir­ish pri­vate eq­uity firm Clan­william Group has been em­broiled in a US fed­eral in­ves­ti­ga­tion.

Eli Global and its founder and chair­man Greg Lindberg are sub­jects of an in­ves­ti­ga­tion re­lat­ing to “drug of­fences, crimes against fi­nan­cial in­sti­tu­tions, or money-laun­der­ing crimes” ac­cord­ing to US me­dia reports.

A spokesper­son for Eli Global said the com­pany was aware of the in­ves­ti­ga­tion. “We in­tend to co-op­er­ate with the gov­ern­ment and pro­vide in­for­ma­tion it re­quests. We are con­tin­u­ing to op­er­ate as usual, and our en­tire team is fo­cused on serv­ing our clients and busi­nesses,” the spokesper­son said.

There is no sug­ges­tion of any wrong­do­ing on the part of the Clan­william Group or any of its em­ploy­ees. Clan­william said it would not be af­fected by the in­ves­ti­ga­tion.

“We are not a sub­sidiary of Eli

Global LLC de­spite the fact that the two com­pa­nies have a com­mon share­holder/in­vestor,” a spokes­woman for the com­pany told the

Clan­william is cited among ‘port­fo­lio high­lights’ on Mr Lindberg’s per­sonal web­site.

In the most re­cent Com­pa­nies Reg­is­tra­tion Of­fice Doc­u­ments, he is listed as a di­rec­tor of Tri­ton Fi­nan­cial Ltd, it­self listed as the sole share­holder in Clan­william Head­quar­ters Ltd.

Green­core CEO Pa­trick Coveney faces op­po­si­tion to struc­ture of US deal

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