Pinewood investment made sense commercially

Baihaghey argid ayns Pinewood, va shen keeallagh dy dellalagh

Briwnys dellalagh mie.

Shen ny ta'n eear-Shirveishagh Tashtee er ghra rish reiltys Vannin, as eh baihaghey argid ayns Pinewood.

Jeeck y reiltys faggys da 12.3 millioon punt son rheynn jeh 9.9 sy cheead ayns Possan Phinewood sy vlein feed cheead as daa-yeig, creck bunnys lieh ny ronnaghyn nurree, as y rheynn va faagit ny s'leaie sy vee shoh son 22.4 millioon punt ooilley coidjagh.

Agh ta Eddie Teare goaill rish nagh yerk eh dy jinnagh y reiltys 10.1 millioon punt y chosney.


Pinewood investment made sense commercially

A good commercial deciision.

That is how the former Treasury Minister has described the Manx government's investment in Pinewood.

It paid almost £12.3 million for a 9.9.per cent stake in the Pinewood Group in 2012, selling almost half of the shares last year and the remaining stake earlier this month for a combined total of £22.4 million.

Eddie Teare admits, however, he didn't expect the government would make a £10.1 million profit.