Irish utility firm Bord Gais is in the process of concluding the sale of its retail unit in 2013. This comes after the state owned company gauged the interest from a range of possible buyers in the recent months.
The government of Ireland had announced that it would be selling off its state assets totaling Eur3 billion or US$3.9 billion in accordance with the mandate from the EU/IMF bailout package. Other assets to be placed on the auction block are the ESB utility's generator and possibly, its 25% shareholdings in the national air carrier, Aer Lingus.
The company aims to publish the information memorandum of the sale of Bord Gais Energy by the end of the month. It said that the 'usual names' have indicated interest in the recent marketing phase of the sale. These include utilities companies, private equity firms and infrastructure funds.
According to Bord Gais Chief Financial Officer Michael O'Sullivan told journalists, "The expectation is that the transaction would be complete during the course of 2013." He also reported revenues of Eur1.63 billion in 2012, an increase of 1% from last year's numbers.
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