Management not charting buyout of shipping group ICG, says Rothwell

A FRESH management buyout bid at ferry and freight services group Irish Continental (ICG) is unlikely to materialise in the foreseeable future.

Speaking after the group’s annual general meeting in Dublin yesterday, chief executive Eamonn Rothwell said that he had “no current intention” of launching another bid and the issue is “not an agenda item at the moment”.

Similarly, Mr Rothwell said it was not his place to comment on last week’s move by the One-51/Doyle Shipping-led Moonduster consortium to sell its 12.5% stake in ICG for about €47 million.