Malaysian power group Tenaga Nasional Bhd is reportedly considering a bid for Bord Gáis Energy, the retail and power generation unit of the semi-state utility company.
Bloomberg reports that the company’s interest has been confirmed by two sources, who asked not to be identified due to the private nature of the talks.
A successful bid by Tenaga Nasional would see the company enter the European utilities market for the first time.
Other companies believed to be considering a bid for Bord Gáis’ retail arm are British players Centrica and SSE.
Potential bidders have until tomorrow to submit indicative offers for the company.
Bord Gáis Éireann began the process of selling Bord Gáis Energy early last month as the Government seeks to dispose of assets as part of the Troika bailout deal.
The company, which owns 15% of the country’s installed wind farms, could be sold for over €1 billion with some suggestions that the price could reach as high as €1.4 billion.
