Irish Continental Shareholder Oxy Capital Opposes EUR1.2 Billion Management Buyout

02:57 AM EDT, 08/14/2026 (MT Newswires) -- Irish Continental Group (ICGC.L, IR5B.IR) shareholder Oxy Capital SGOIC is opposing the 1.2 billion-euro take-private bid from the Irish maritime group's senior management, stating the offer "materially undervalues" the company. Oxy Capital, which manages funds holding a 1.4% stake in Irish Continental, urged shareholders to vote against the offer at the scheme meeting and extraordinary general meeting scheduled for Aug. 28, according to a letter to Irish Continental's board dated Thursday and released on Friday. The shareholder claims that the "management is seeking to take ICG's uniquely valuable mix of infrastructure assets private at a 39% discount to relevant precedent transactions and at a highly opportunistic time."