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Friday 20 October 2017

Workers halve value of ESB stake to €94m

ESB workers value their own 5pc stake in the semi-state at €94m, around half what the Government thinks it is worth, the Irish Independent has learnt.

The revelation comes after 10,000 workers and former ESB employees were able to cash in shares held since 1996 for the first time.

On Saturday the Irish Independent revealed that the Government has ordered the ESB to raise €400m by selling some of its 13 power stations.

Now figures show the ESB's own workers and pensioners have priced their stake at about half what the State thinks it is worth.

ESB staff and pensioners own their stake through an employee share ownership programme set up in 1996.

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Irish Independent

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