Talks over Bord Gáis staff shares

Negotiations are under way between the NTMA and Bord Gáis over how members of the company’s employee share ownership trust (ESOT) will be treated when it is part privatised later this year.

Employees of Bord Gáis own 3.27% of the company. The Government plans to sell the retail arm of the business, Bord Gáis Energy, as part of its plan to dispose of state assets. The Government will retain control of the distribution division, Bord Gáis Networks.

Neither Bord Gáis or the NTMA, which is responsible for handling the sale, would comment on what the implications will be for the ESOT shareholding.