Centrica preparing £1bn bid for Irish power company

Centrica is preparing a bid of more than €1bn for Viridian, Northern Ireland’s biggest power company, according to people familiar with the deal.

The firms owners Arcapita has set a deadline of Friday for first-round bids. The company supplies electricity to around 610,000 homes and businesses in Northern Ireland, and also owns gas-fired power stations and wind farms.
Ian Conn
Industry insiders told the FT Centrica, headed by Ian Conn (right) was likely to bid alone for the company, but might invite consortium partners to join at a later date to take on the generation side of the business.

Other potential bidders are looking at Viridian, according to those close to the deal, including AMP, the Australian financial services company.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...