Scottish Gas owner in €1.1bn deal for Irish firm

Centrica, the energy company that owns Scottish Gas, today said it has struck a deal to buy Bord Gáis Energy (BGE) in a deal that values the Irish power supplier at €1.1 billion (£923 million).

Under the deal, Centrica will buy BGE’s gas and electricity supply business and its gas-fired power station in county Cork, while private equity firm Icon Infrastructure Partners will buy its energy supply and distribution assets in Northern Ireland.

BGE’s renewable generation assets will be bought by Brookfield Renewable Energy Partners.

Centrica chief executive Sam Laidlaw said: “This is a unique opportunity for Centrica to take a first step in a neighbouring market with strong links to the UK, building on Bord Gáis Energy’s existing capabilities and delivering value for the group.”