Energia sale to fetch up to 1.5bn

 

Energia is to be put up for sale this week with an estimated price tag of between €1 billion and €1.5 billion, according to reports.

The independent energy company is being sold by Arcapita - the Bahrain-based investment firm - as it seeks to consolidate its European asset base.

Arcapita has asked the London office of investment bank Dresdner Kleinwort to handle the sale process.

Energia has more than 35,000 customers in Ireland and has the capacity to supply about 20 per cent of Ireland's total electricity demand. The company also owns the 744megawatt Huntstown power station in north Dublin and has operations in the North.