2023-05-11 14:55:37 ET
Three U.K. power providers have expressed interest in acquiring Shell's ( NYSE: SHEL ) home energy supply business in the country, which was put under review earlier this year because of poor returns, Reuters reported Thursday.
Octopus Energy and Ovo Energy have placed bids for Shell Energy ( SHEL ) and progressed into the second round of bidding, according to the report, while Centrica's ( OTCPK:CPYYF ) ( OTCPK:CPYYY ) British Gas also placed a bid but it was not clear if it had progressed to the second round.
Shell Energy ( SHEL ), launched in 2019 with the acquisition of First Utility, has nearly 1.5M customers after absorbing several failed rivals; a deal could be worth $50M-$100M, Reuters said .
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For further details see:
Shell's British retail business attracts bid from three rivals - report