The O'Flynn Construction Group says it has reached agreement with private equity giant Blackstone following an acrimonious row.

Blackstone bought the O'Flynn group's debt from the National Asset Management Agency but, in the High Court last summer, the O'Flynns succeeded in removing an interim examiner.

The deal will see the O'Flynns get most of the development assets of the group.  

Blackstone, through its subsidiary Carbon Finance, will retain the completed properties including the Elysian Tower in Cork.  

The development assets are largely in Ireland but include some in Britain.