Moonduster moves to resurrect takeover saga

MOONDUSTER, the bidding vehicle for Irish Continental Group (ICG) comprising Philip Lynch’s One51 investment business and the Doyle Shipping group, has moved to potentially resurrect the dormant takeover saga at the ferry and freight services group.

The group yesterday proceeded with a planned extraordinary general meeting in Dublin, after which it noted that the consortium had previously called for a six week adjournment to the meeting, during which time it would seek to engage with the other major shareholders “with a view to potentially bringing forward an offer for the company”.

Moonduster owns just over 25% of ICG.

A group statement following the meeting warned shareholders that a renewed approach from Moonduster for the group was “extremely preliminary in nature”.