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Bord Gáis to seek financial advisor for the sale of Bord Gáis Energy


13th July 2012: Bord Gáis is to commence the tender process to appoint a lead corporate financial advisor to advise the Board and management of Bord Gáis in relation to the sale of its energy business, Bord Gáis Energy.

The financial advisor will provide all corporate financial advisory services in respect of the sale. Specifically the corporate financial advisor will manage the sales process to completion, including providing a valuation assessment to Bord Gáis, evaluating proposals and leading commercial negotiations. The corporate advisor will work closely with the advisors appointed by the National Treasury Management Agency (NTMA) on behalf of NewEra.

The first stage of the tender process, the pre-qualification questionnaire (PQQ), will commence today with the publication of the notice on eTenders, the public procurement website. Tenderers will have until 9th August 2012 to respond. The intention is to invite up to 15 Tenderers to participate in the second round of the process, the formal Invitation to Tender (ITT). Following the PQQ and ITT evaluation, a contract will be awarded to the successful application.

John Mullins, chief executive of Bord Gáis said: “This is the first step in the process of preparing for the sale of Bord Gáis Energy. We expect to appoint a lead financial advisor by late autumn, and subject to all other conditions being satisfactory to our shareholder, the sale could be concluded in late 2013. As chief executive, my priorities throughout this process are to our shareholders, customers and staff. We will endeavour to generate the maximum value possible for the State from the sale of Bord Gáis Energy, and throughout the sale process, we are committed to continuing to meet the needs of our customers and our staff”.


Bord Gáis is comprised of two major divisions: Bord Gáis Networks, which will remain in state ownership, and Bord Gáis Energy, the retail arm of the company which includes Bord Gáis Trading and Bord Gáis Assets. Bord Gáis Networks develops, operates and maintains the natural gas transmission network in Ireland and provides gas transportation services to suppliers and shippers.

Bord Gáis Energy’s retail division provides gas and electricity to residential and business customers in the Republic of Ireland and in Northern Ireland through its subsidiary firmus energy. Bord Gáis Energy has approximately one million gas, electricity and Home Services customers.

Bord Gáis Trading is responsible for the procurement of gas, electricity and carbon on wholesale markets.

Bord Gáis Assets is responsible for the operation and maintenance of existing power generation assets which generate in excess of 683 MW of generation capability, as well as the development of new assets such as the company’s wind portfolio.

Bord Gáis Energy is based in Dublin, Cork and Belfast and has approximately 485 staff.

In addition, the Government recently announced its intention to establish Irish Water as a wholly owned public utility within the Bord Gáis Group.

For further information, please contact:

Larry Donald, Bord Gáis
087 258 1787

Christine Heffernan, Bord Gáis
087 050 5555