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O'Rourke offloads ICG stake

RAY O'Rourke's Laing O'Rourke -- the biggest privately owned construction company in Europe -- has recently sold its stake in Eamonn Rothwell's Irish Continental Group (ICG).

Laing O'Rourke had been linked with the company when it was being fought over by Liam Carroll and the Philip Lynch-led Moonduster consortium. It held a 2.3 per cent stake.

Speculation has surrounded ICG for a number of months, although Rothwell recently told shareholders he had no plans to bid for the group.

Sunday Indo Business