Energia Group’s owner, US investment firm I Squared, has agreed to sell the Irish power company to French private equity firm Ardian.
I Squared put the group on the market earlier this year with a reported estimated enterprise value of €2.75 billion, including net debt. Parties to the deal declined to comment on the value agreed in recent days. Joe Brennan has the story.
Meanwhile, all eyes are on tomorrow’s budget, and now is pretty much the last chance for groups to make their voices heard.
Quantity surveying firm Buildcost is saying uncertainty over construction projects is driving Ireland’s expertise abroad, harming the State’s efforts to build up the domestic industry.
For his part, John Fitzgerald makes the case that tax cuts are the last thing the economy needs in the budget.
Readers with specific queries about the budget can submit questions using this form and our experts will be on hand to provide answers on Wednesday morning as the details are pored over.
On the west coast, the Victoria Hotel in Galway city has been granted permission to build an nine-storey extension after an appeal to An Coimisiún Pleanála.
The development was rejected by Galway City Council out of concern for its environmental impact on the Galway Bay protected area.
It is owned by the Byrne Hotel Group, which also owns the Salthill and Eyre Square hotels in Galway, as well as the Albany House Hotel on Harcourt Street in Dublin. Hugh Dooley reports.
Meanwhile, Christophe Matthiue, chief executive of French ferry company Brittany Ferries, has warned that the push for greener vessels could hurt its business in the future if the price of electricity leads to higher fares.
Passenger numbers from France to Ireland are up 5 per cent this year, with expectations of further growth on the route next year.
Australia’s second most populous state of Victoria is planning a law giving workers in both the private and public sectors the right to work from home for at least two days a week. Pilita Clark runs her eye over the proposal.
In this week’s Q&A, Dominic Coyle deals with a reader’s query regarding insuring children against a future inheritance tax bill.
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