Octopus Energy eyes $14 billion demerger of Kraken technologies
Photo: Reuters
British energy firm Octopus Energy is reportedly preparing a $13.65 billion (£10 billion) separation and stake sale of its tech division, Kraken Technologies, according to a report by Sky News on Saturday.
The company is close to appointing bankers to oversee the demerger process, which could mark one of the largest technology-focused spinoffs in the UK energy sector in recent years, News.Az reports, citing Reuters.
Kraken Technologies, Octopus’s proprietary software platform, powers energy services across multiple international markets and is considered a key growth asset for the group ($1 = £0.7325).
Similar news
