The energy sector is buzzing with a potential game-changer! Octopus Energy Group is preparing to sell a significant stake in its software subsidiary, Kraken Technologies, a move that will solidify its position as a major player in the British private sector. But here's the twist: this sale might just be the catalyst for a massive valuation boost.
Sky News has uncovered that Octopus Energy is orchestrating a syndicate of investors to acquire a 10% to 20% stake in Kraken. This strategic move could value Kraken at an astonishing $9bn to $10bn. Imagine the impact this will have on the energy landscape!
The investor lineup is impressive: D1 Capital Partners, a tech investment powerhouse; Fidelity, a fund management giant; and an affiliate of Canada's Ontario Teachers Pension Plan. These heavyweights are set to become part of this groundbreaking deal.
Octopus Energy, now the largest household gas and electricity provider in Britain, has entrusted Goldman Sachs to oversee the demerger of Kraken and the sale of this substantial stake. And the timing couldn't be more perfect, with an announcement expected any day now.
This demerger, first reported by Sky News in July, will significantly boost the wealth of Octopus Energy CEO Greg Jackson, showcasing his remarkable achievement in building a globally influential British company in just a decade.
