Renowned investor, businessman and philanthropist Warren Buffett has actually sent a few of his best aides to the country of Ireland in order to meet with the Irish Minister for Energy, named Pat Rabbitte. The aides are meeting in order to discuss a possible sale of Irish State assets.
“Two meetings were held with different representatives of the Berkshire Hathaway group. In both cases these were introductory meetings organized at the request of Berkshire Hathaway,” we learned from a government source who told the Sunday Independent.
Bord Gais Energy, a national gas company of Ireland, is on the selling block for an estimated cost of $1.3 billion.
This is actually one of several government companies that are currently up for sale. Some of the other companies are Coillte, which is the Irish forestry organization, and the national lottery license is also for sale.
In the past, Warren Buffett has been burdened by Irish investments. During the year 2008, he bought $318.5 million worth of shares in two different Irish banks. The shares eventually tanked, and the value of those stocks dropped to $35 million.