Dáil Éireann Debate, Thursday - 31 January 2013
20. Deputy Aengus Ó Snodaigh asked the Minister for Communications, Energy and Natural Resources the position regarding the sale of Bord Gáis Energy; and if he will make a statement on the matter. [4688/13]
Amharc ar fhreagraSignificant progress is being made on the sale of Bord Gáis Éireann’s Energy business as part of the State Assets disposal programme. NewERA is the agency with responsibility for oversight of the sale transaction on behalf of the Government and has appointed Barclays Bank plc as financial advisers to the Government with A & L Goodbody recently appointed by NewERA as legal advisers. My Department is also progressing priority actions to address necessary legislative, regulatory and financial issues in relation to the disposal process.
Bord Gáis Éireann (BGÉ) also continues to prepare for the restructuring and due diligence process, which is required as part of the sale transaction and the company is carrying out detailed preparatory work following the appointment of RBC Capital Markets as BGÉ's financial advisers and McCann FitzGerald as its legal advisers in relation to the sale. My Department, in conjunction with the Department of Public Expenditure and Reform, NewERA and BGÉ is advancing the various work-streams essential to the transaction. Dedicated Steering and Working Groups have been established with a view to commencing the sale process early this year.
