ESB to buy Northern Ireland electricity company

ESB has entered into an agreement with the Arcapita Bank-owned Viridian Group for the acquisition, by a wholly-owned subsidiary of ESB, of Northern Ireland Electricity plc (NIE), the Northern Ireland transmission and distribution business of the Viridian Group.

As part of the acquisition, ESB will also acquire certain associated companies of NIE, including NIE Powerteam Limited and Powerteam Electrical Services (UK) Limited, which provide electrical construction and maintenance services (together with NIE, the NIE Group).