Business Irish

Tuesday 12 December 2017

Malaysia’s Tenaga considers bid for Bord Gais unit

Initial bids for division of Bord Gais due tomorrow
Initial bids for division of Bord Gais due tomorrow

MALAYSIA’S biggest power group Tenaga Nasional Bhd (TNB) is circling the power generation and retail division of Bord Gais.

Such a move by TNB would mark the first move by the Kuala Lumpar-based company into the European utilities market.

While TNB would not comment on the move, reports from news agency Bloomberg said today that talks are private and ongoing.

Other bidders interested in Bord Gais assets include Centrica and SSE with initial offers for Bord Gais Energy due tomorrow.

The Government is aiming to raise €3bn from asset sales under the terms of its EU/ECB/IMF bailout in 2010.

Bord Gais Energy, which owns 15pc of the country’s installed wind farms, could be worth as much as just under €1.5bn.

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