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    Reclusive billionaire Ken Dart takes $2.5bn stake in Paddy Power owner

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    Reclusive billionaire Ken Dart takes $2.5bn stake in Paddy Power owner

    By John Mulligan From Irish Independent

    A Cayman Islands-based billionaire, Ken Dart, has scooped up a $2.5bn (€2.1bn) stake in Paddy Power owner Flutter Entertainment.

    The company, which has its main stock market listing in New York, confirmed that Mr Dart’s Cayman Islands investment vehicle, Candle Lake, now owns just over 5pc of the gambling group.

    Mr Dart (70) has been dubbed a ‘vulture investor’, for his purchase over many decades of distressed sovereign debt and holding out for government deals.

    He has built a property empire in the Cayman Islands and become a serial investor in everything from sovereign debt to big tobacco.

    For more on this story go to: Irish Independent

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