15th Jan 2016 06:57
LONDON (Alliance News) - Centrica PLC is preparing a bid in excess of EUR1.00 billion for Northern Ireland's largest power company, Viridian, the Financial Times reported Thursday.
The FT said the owners of Viridian, Bahrain-based Arcapita, has put the business up for sale and set a deadline of Friday for first-round bids, with Centrica thought to be preparing an offer.
People familiar with the process said Centrica 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, the FT said.
Although some have suggested Centrica is likely to bid just over EUR1.00 billion, those close to the deal say Viridian is looking for closer to GBP1.00 billion, which would equal EUR1.30 billion.
http://www.ft.com/cms/s/0/0786cc06-bae4-11e5-bf7e-8a339b6f2164.html#axzz3xIFuEz1i
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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