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Centrica to take over Bord Gais Energy

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Centrica-logo-on-building_550x300-300x246Centrica is set to take over irish state-owned energy firm Bord Gais Energy as part of a €1.12 billion deal.

The company was named the preferred bidder on Thursday as part of a consortium of UK and Canadian investors, following the Irish government’s decision to put the Bord Gais Energy up for sale to pay it’s debts.

Ireland’s Minister for Communications, Energy and Natural Resources Pat Rabbitte and Brendan Howlin, Minister for Public Expenditure and Reform said: “The successful conclusion of the sale will help provide additional funding to enable investment in infrastructure and jobs.”

The final terms of the deal are being discussed with the investors, and the deal is expected to be signed early next year with completion due early 2014.

 

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