The Republic of Ireland’s Bord Gáis state-owned energy company has sold its UK gas distribution business for £5.8 million (€8.4 million) to a subsidiary of Babock & Brown.
The Australian firm bought Utility Grid Installations (UIG) which is focussed on gas supply to new buildings having forged alliances with a number of house building firms. UIG has around 7,000 customers currently.
Bord Gáis plans to focus on its electricity and gas interests in the Republic.