Reports yesterday claimed that industrial holding company DCC is planning to sell its stake in one of the country's biggest building companies.

DCC owns 49 per cent of Manor Park Homes. Reports yesterday said it intends selling this and valued the holding at €200 million.

DCC will be obliged to issue a statement to the Irish Stock Exchange if the sale does go ahead.

Its chief executive Jim Flavin was reported as saying that any announcement will be made at the appropriate time. However, a spokesman yesterday would not comment.

The move was said to be a result of talks between DCC and Manor's other shareholder, businessman Joe Moran. The reports did not say what Mr Moran's plans were in relation to the business.

Manor Park bought Abbeville, the home of late taoiseach Charles Haughey, for €45 million in 2003.

Last week, The Irish Timesreported that it made profits of €61 million in the 12 months ended March 31st 2006, a 67 per cent increase on the previous year.

Turnover grew to €148.2 million from €117.8 million the previous year. The company had accumulated profits of €136 million at the balance sheet date.