Irish Gvmt. Dept. CE&N Resources has acquired Northern Ireland Electricity plc
Ireland's Electricity Supply Board (ESB) has entered into an agreement with the Arcapita Bank-owned Viridian Group to buy Northern Ireland Electricity plc (NIE) in a deal worth of US$1.6 billion.
ESB, through its ESB Networks division, owns the electricity transmission and distribution network in the Republic of Ireland.
NIE owns the regulated electricity transmission and distribution network in Northern Ireland and is responsible for the planning, development, construction and maintenance of the entire network as well as the operation of the distribution network.
Oaklins' team in Ireland advised the Irish Government’s Department of Communications, Energy & Natural Resources – a 95% shareholder in ESB – in relation to this acquisition.
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