Bloom makes comeback

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The Independent Online
DESMOND BLOOM, the property entrepreneur who saved his previous company pounds 500,000 by resigning as chairman last month, is making a comeback with the acquisition of a 29.8 per cent stake in the shell company Vizcaya, writes Heather Connon.

He has also become chairman and managing director of the company, but he will not be drawing a salary until the company 'can afford to pay it'.

The shares were secured from Mark Keegan, who acquired a 60 per cent stake in the group following an offer for the company earlier this year. He will retain the remainder of his stake. The deal price was not disclosed, but it is believed to be close to the market price, up 0.75p at 2.25p yesterday, which values the group at pounds 31m.

Mr Bloom was chairman of Dwyer, the loss-making Irish property company. His aim is to turn Vizcaya, which owns a zinc mine in Spain, into a property investment company. He is already considering a number of deals.