Irish investment company Boundary Capital and its partner Anglo Irish Private Bank have completed the EUR 65 mln acquisition of a 45% indirect stake in the Arnotts Department Store group, Ireland's largest department store. Boundary Capital has invested EUR 40 mln for its 28% holding, while Anglo Irish Private Bank has co-invested EUR 25 mln for 17%.

Irish investment company Boundary Capital and its partner Anglo Irish Private Bank have completed the EUR 65 mln acquisition of a 45% indirect stake in the Arnotts Department Store group, Ireland's largest department store. Boundary Capital has invested EUR 40 mln for its 28% holding, while Anglo Irish Private Bank has co-invested EUR 25 mln for 17%.

Arnotts' principal activities are retail trading and retail property development. It currently operates three retail premises and is also set to embark on a major redevelopment project, with an expected investment of EUR 750 mln, to create Dublin's Northern Quarter. A new shopping and entertainment area, the cornerstone of the Northern Quarter will be a 24,000 m2 Arnotts store.