Czech energy company EPH, backed by Daniel Kretinsky, and Japanese trading company Itochu are expected to submit preliminary bids for Irish utility Energia Group, according to two people familiar with the matter.
Other potential candidates include investors Ardian, Asterion and CPP Investments, the people said. Itochu is expected to form a consortium, while CPP Investments could team up with Britain's Octopus Energy, in which it already invests, one of the people said.
Billionaire Kretinsky is also the co-owner and president of the Sparta Prague football club, and a director and major shareholder of the English club West Ham United. Kretinsky recently took control of the UK postal service Royal Mail and has financial interests in Le Monde and Libération, two French daily newspapers.
The new deal could value Energia Group at more than €2 billion, including debt, the people and a third source said. The group was bought by private equity firm I Squared for about $1 billion (€880 million) in 2016.
The non-binding offers are expected to be submitted this week, the sources and a fourth person said. All four people spoke on condition of anonymity because the matter is private.
I Squared, CPP Investments, Itochu, EPH, Ardian and Asterion declined to comment. Energia Group referred inquiries to I Squared, while Octopus Energy did not immediately respond to a request for comment.
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Energia Group, which supplies about 17% of Ireland's total electricity needs, has become the latest energy company to attract investor interest after Iberdrola acquired Electricity North West last year.
The company is an integrated utility with investments in renewable energy, power distribution, data centers and gas turbines.
Energia Group recently received permission to build a data centre in Dublin, setting the stage for a sale, three sources said.
Reuters first reported last year that I Squared was considering selling Energia.
Sourse: breakingnews.ie
