At the annual general meeting of Citywest developer Davy Hickey on December 7 last, investors passed a resolution to split the property company into two. Cash assets would stay in DHP, an Isle of Man entity, while all the remaining property and development assets, valued at around €40 million, would be hived off to a new Irish company called Oviedo. The new company, set up as a mirror of DHP in its shareholding and board structure, had one purpose, to sell everything thereby bringing to an end, after 30 years, one of the leading property investment businesses in the country.…

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