The ESB confirmed today it is in talks with Bahrain-based investment bank Arcapita over the possible acquisition of Northern Ireland Electricity (NIE) from its parent Viridian.
"These discussions may or may not lead to a transaction and a further announcement will be made if agreement is reached," an NIE statement said.
NIE, which is part of the Viridian Group, is subject to a price control in the North which determines the revenue it can earn and the prices it can charge.
The company is responsible for the electricity transmission and distribution network in Northern Ireland. It derives its revenue from charges it levies for use of the distribution system on electricity suppliers such as its sister company, NIE Energy, which is also part of the Viridian Group.
