Sunday September 20, 2020

Viridian chief to make €1.37m from takeover

Viridian chief executive Patrick Haren will earn more than €1.37 million from the £1.62 billion (€2.4 billion) sale of the Belfast power company to Bahrain-based bank Arcapita.

7th October, 2006

Finance director Patrick Bourke, meanwhile, will realise over €634,000 from the sale of his stake in Viridian. Arcapita - previous ly known as the Islamic Investment Bank - has offered 1,336 pence per share to acquire the electricity distribution lines of Northern Ireland Electricity and the power stations at Huntstown in north Dublin.

NIE supplies electricity to 780,000 domestic customers in the North, and is planning next year to open a second power station at Huntstown,...

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