LONDON - The British energy company Centrica and two investment partners said Tuesday that they have agreed to acquire the gas and electricity supply business and other assets of the Irish energy supplier Bord Gáis Éireann for 1.1 billion euros, or about $1.52 billion.
Under the deal, Centrica will acquire the state-owned energy company’s Bord Gáis Energy unit, the largest supplier of both gas and electricity in Ireland with about 650,000 residential customers. Centrica also will acquire the 445-megawatt Whitegate gas-fired power station in County Cork.
As part of the deal, the investment firm iCON Infrastructure will acquire Bord Gáis Éireann’s energy supply and regulated gas distribution assets in Northern Ireland, and Brookfield Renewable Energy Partners will acquire the company’s renewable generation assets.
“This is a unique opportunity for Centrica to take a first step in a neighboring market with strong links to the UK, building on Bord Gáis Energy’s existing capabilities and delivering value for the group,†said Sam Laidlaw, the Centrica chief executive, in a statement.
The transaction is expected to close in the first half of 2014 and is subject to regulatory approval.
Centrica employs about 37,000 people worldwide, operating primarily in Britain and in the United States. The company posted an operating profit of £2.69 billion, or about $4.44 billion, in 2013.
