Irish Continental Group is facing a fresh takeover approach as chief executive Eamonn Rothwell leads a €1.2bn management buyout bid for the ferry operator. The move brings Rothwell back to a deal he previously tried to complete almost two decades ago, when an earlier attempt to take the company private did not succeed.
The renewed proposal centers on buying out the Dublin-listed transport group, with Rothwell now at the front of the effort. The size of the bid underlines the significance of the approach for ICG, a well-known name in Irish ferry and shipping services.
The development also fits into a wider pattern in the Irish market. According to the report, three Irish public companies are currently the subject of takeover proposals, highlighting a period of heightened deal activity for listed businesses in the country.
For investors, the ICG bid stands out because it combines a large valuation with a long-running management ambition. Nearly 20 years after the first failed effort, Rothwell’s latest move reopens the question of whether Irish Continental Group could finally leave the public market under a management-led deal.
