Mr David Bonderman is the US investor and Ryanair chairman who paid £1 million and advanced loans of £24 million for his 19.9 per cent stake in the airline last August. He is not selling any of his shares, held through Irish Air, in the flotation. But the issuing of new shares will dilute his stake, reducing it to 15.7 per cent.
At the expected flotation price range his stake will be worth between £41 million and £48.5 million. Under the "green shoe" clause, he may sell 1.8 million shares if the demand is strong. Mr Bonderman holds major stakes in US airlines Continental Airlines and America West.
The Texan investor has a long involvement in rescuing troubled airlines. He led a $450 million (£302 million) refinancing of Continental Airlines in 1993. A former associate of billionaire Mr Robert Bass, Mr Bonderman was made chairman of the airline shortly after the deal.
Air Partners, a subsidiary of his main investment vehicle, Texas Pacific Group (TPG) took a stake in Continental through a $64.3 million investment. The value of TPG's holding has since increased to $500 million as the airline reported record profits.
TPG also helped to bring American West Airlines out of chapter 11 protection in a deal that gave Mr Bonderman and his associates 33.5 per cent of the company for $433.6 million. Mr Bonderman has also been involved with Mr Richard Branson when they bought the British MGM cinema chain in 1994.
