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ElectricInvest says it will buy Viridian for 1.62 billion pounds

ElectricInvest says it will buy Viridian for 1.62 billion pounds

ElectricInvest Acquisitions Ltd., a division of Bahrain-based Arcapita Bank BSC, said Friday it will buy Viridian Group PLC, Northern Ireland's main power supplier, for 1.62 billion pounds (US$3 billion; euro2.4 billion).
Arcapita will pay 1,336 pence (euro19.81; US$25.16) a share for each Viridian share, the company said in a statement. The price represents a 23 percent premium to Viridian's share price on Oct. 4, the day before Viridian said an approach had been made.
"ElectricInvest believes that the acquisition of Viridian represents an opportunity to achieve stable returns from both its regulated and non-regulated electricity businesses," the company said.


Updated : 2021-03-01 09:13 GMT+08:00