Bord Gáis buys SWS for €500m

FOLLOWING months of speculation Bord Gáis has bought the West Cork-based SWS Natural Resources business for a total cost of €500 million, including debt of €245m.

This is a strategic move for the group, achieved for a lot less money than had been speculated in the run-up to the announcement.

It was reported during the intensive bid period that the sellers of the business, Ion Equity, were hoping to get €800m.