Centrica to buy Bord Gais retail arm for 1.1. billion euros

LONDON, March 25 Tue Mar 25, 2014 3:11am EDT

LONDON, March 25 (Reuters) - British utility Centrica has agreed to buy the gas and electricity supply arm and a gas-fired power plant from Ireland's state-owned Bord Gais Eireann for 1.1 billion euros ($1.52 billion).

Centrica's partners iCON Infrastructure Partners and Brookfield Renewable Energy Partners will purchase Bord Gais' distribution and renewable power generation assets, respectively, the companies said.

The transaction is expected to close in the first half of 2014.

The Irish state had put the Bord Gais assets up for sale as part of its privatisation programme. ($1 = 0.7255 Euros) (Reporting by Karolin Schaps; editing by Keith Weir)