U-turn points to €2bn ESB pension deficit

A deficit of almost €2 billion in ESB's pension fund was identified as highly unattractive to potential investors interested in acquiring a minority stake.

26th February, 2012

A deficit of almost €2 billion in the ESB pension fund was identified as highly unattractive to potential investors interested in acquiring a minority stake in the company, according to informed sources.

The government last week announced that it had decided against selling a stake in ESB and would instead sell Bord Gáis Energy, the retail and supply division of Bord Gáis, which is valued at up to €1.4 billion.

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