Centrica-Led Group's $1.5B Bid For Irish Utility Approved

Law360, New York (December 16, 2013, 3:31 PM EST) -- A group of investors led by British Gas owner Centrica PLC has emerged as the preferred bidder for the sale of the retail division of state-owned Irish utility company Bord Gais Eireann with a  €1.12 billion ($1.54 billion) offer, Irish authorities said last week.

Irish Minister for Communications, Energy and Natural Resources Pat Rabbitte and Minister for Public Expenditure and Reform Brendan Howlin said Thursday that they have approved a bid from a consortium led by Centrica, which includes Brookfield Renewable Power Inc. and iCON Infrastructure,...
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