BC Partners, the venture capital company which owns 90 per cent of C&C, is the single biggest loser as a result of the pulled flotation. It had intended to sell 40-45 per cent of its total shares for up to €700 million.

Chairman Mr Tony O'Brien's shareholding in the drinks and snacks company could have been worth up to €8.8 million if the shares had floated within the €2.60 to €3.60 range.

Mr Brendan McGuinness, managing director of C&C's alcohol division, had shares that could have been worth €5.5 million. Chief executive Mr Maurice Pratt, who joined the group last year, was allotted shares worth up to €4.4 million. He also stood to benefit from share options with the potential to realise €2.25 million.

Mr Pratt is paid a basic salary of €500,000 and is entitled to an annual bonus of up to 50 per cent of his salary which was guaranteed in the current year regardless of whether the flotation went ahead.

C&C finance director Mr Brendan Dwan owns shares which could have realised €4.4 million plus share options worth €670,000.

Another executive, strategy and development director Mr James Muldowney, holds shares which could have realised €2.2 million. Other executives, Mr Colin Gordon, Mr Desmond Drumm, Mr James Bradley and Mr Peter McGovern, each stood to gain €5.2 million from the flotation.

Some €20 million worth of C&C shares were to have been gifted to its 2,124 employees. The firm had spent up to €600,000 on marketing the flotation. Its advisers, including Davy Stockbrokers, IBI Corporate Finance, Goldman Sachs International and Schroder Salomon Smith Barney, would have shared fees of €30 million if the flotation went ahead. These will not now be paid.