We are advising the bidder and management buyout team on the €1.2bn recommended cash offer for Irish Continental Group plc (“ICG”). ICG is the leading Irish-based maritime transport group. Its activities include the transport of passengers, cars and Roll on Roll off (“RoRo“) freight under the Irish Ferries brand, on routes between each of Ireland, Britain and Continental Europe. ICG also provides Container Lift on Lift off (“LoLo“) freight services on routes between Ireland and Continental Europe under the Eucon Shipping & Transport brand.
The acquisition, which is proposed to be implemented by means of a scheme of arrangement under Irish law, is conditional on the approval of the scheme by ICG shareholders, receipt of any necessary regulatory or other approvals and the sanction of the scheme by the High Court of Ireland.
The transaction was led by Corporate and M&A partners Cian McCourt, Sarah McDermott and Sophie Frederix with senior associates Conor Quane and Conor Browne, and associates Lucy Thornton and Cathal Kelleher. The team also included Fintan Clancy, Orlaith Kane and Emily Briggs (Tax), Ciara Buckley and Ed McDonagh (Debt Finance) and Patrick Horan and Lís O’Connor (Competition and Regulated Markets).
