Bord Gáis Energy to be sold by year end

Bord Gáis will issue an information memorandum to potential bidders for its retail division, Bord Gáis Energy, by the end of this month, with the sale of the unit expected to be completed later this year.

The first state-owned asset to be sold as part of the agreement with the troika, it could fetch €1bn to €1.4bn. A number of international utility players have been eyed as potential bidders, including Britain’s Centrica, E.ON of Germany, and French company GDF Suez.