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Banking and finance group, Dresdner Kleinwort, will this
week start the bidding process for Ireland’s Energia, owner
of the Huntstown electricity generating plant in Dublin, according
to reports.
The giant UK Scottish and Southern Energy is favourite to
buy the unit. The deal is expected to top £2.5 billion with
the Scottish-headquartered group believed to be keen to expand
in to Ireland.
The company is also thought to be in the running for two
other power plants being auctioned by the ESB (Click
Here).
Arcapita, the Bahrain investment firm that owns Energia's
mother company Viridian, decided to put the business up for
sale after a strategic review by Dresdner.
The bank has already circulated a 'teaser' document
among prospective bidders to gauge interest. Indicative bids
are expected to be lodged by the middle of next month.
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