BG sells Premier Power shares to AES

Natural gas company BG has signed a Share Sale Agreement (SSA) with AES Ballylumford Holdings, a wholly owned subsidiary of power company AES, for the sale of utility company Premier Power, a wholly owned subsidiary of BG, for a total consideration of £99m.

Closing of the transaction is subject to receiving the customary regulatory approvals.

The transaction is expected to complete in the second half of 2010.