Bord Gais Sale – Only Two Potential Buyers Left

The state sell off of Bord Gais Energy is not progressing  too well – which may not please the IMF.  The sell off of selected state assets was included in the IMF/ECB bailout agreement.
(The National Lottery was sold off earlier this month for €405m.)

One of the bidders for Bord Gais Energy – Malaysia’s Tenaga Nasional,  has scrapped their bid  , narrowing the field to just two.

It looks like the 2 remaining bids are from a group led by Viridian Group (backed by Macquarie Group), and from Centrica Plc, the UK’s largest power company.

Leaked reports say that the Viridian-led offer is above a €1 billion reserve set by Bord Gais, while Centrica’s is below.

The Government expect the sell off to be completed  before the end of the year. (2013)

Irish Water – which will be part of Bord Gais – is not included in the Bord Gais Energy sale.

Read more here about the  Bord Gais Sell Off