BGN Entrepreneur

Today, Centrica and EDF were reported to be at loggerheads over the planned sale of a 25% stake in British Energy, which supply the UK with around one-sixth of its electricity needs in total. According to the Financial Times, the recent sharp fall in electricity prices meant Centrica was under great pressure from its shareholders not to overpay for the stake.
Centrica and EDF reached a non-binding agreement last summer that Centrica would buy the holding for £3.1bn, placing the same value on British Energy as was paid by EDF for the whole company earlier the year.
For Centrica, the deal is seen as a strategic priority, as the British Gas owner looks to boost upstream assets and protect itself against volatile energy markets.

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