Private equity company I Squared Capital has acquired Irish energy firm Viridian in a deal reported to be around €1 billion.

Virdian, which also owns Power NI and Energia in Ireland, has employs approximately 480 people and has a 20% of domestic electricity and 27% business electricity sales across Ireland.

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I Squared Capitalis buying Viridian from Bahrain's Arcapita Bank BSC.

I Squared has offices in New York, London, New Delhi, Houston and Singapore.

(CD)