The ESB has completed a €1.4bn deal to buy Northern Ireland Electricity.

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.

ESB has agreend to purchase Northern Ireland Electricity (NIE) in a deal worth more than €1.2bn, it was announced today.