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    CNA   GB00B033F229

CENTRICA PLC

(CNA)
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Real-time Estimate Cboe Europe  -  03:20:03 2023-02-02 am EST
99.26 GBX   -2.06%
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Octopus Energy's takeover of collapsed UK supplier Bulb set for next month

11/30/2022 | 09:32am EST
FILE PHOTO: Britain's PM Boris Johnson visits Octopus Energy, in London

LONDON (Reuters) - The acquisition of collapsed British energy supplier Bulb by Octopus Energy can go ahead next month, a judge at London's High Court ruled on Wednesday.

However, rival suppliers E.ON, British Gas and Scottish Power are mounting a legal challenge to the deal which could still delay - or even block - the takeover.

Bulb, which had around 1.5 million domestic customers, was one of the largest energy suppliers to collapse last year due to soaring wholesale gas and electricity prices.

The British government's official budget forecaster said earlier this month that support for Bulb will cost around 6.5 billion pounds ($7.8 billion).

A deal for Octopus to buy Bulb was approved by the Department for Business, Energy & Industrial Strategy (BEIS) last month. The transaction also needed High Court approval.

Judge Anthony Zacaroli on Wednesday set a date for the deal to go ahead on Dec. 20, saying that E.ON, British Gas and Scottish Power should make any application to delay the takeover pending their legal challenges in those proceedings.

(Reporting by Sam Tobin, Editing By Paul sandle)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CENTRICA PLC -1.71% 99.52 Delayed Quote.5.00%
E.ON SE -0.10% 10.005 Delayed Quote.7.40%
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Analyst Recommendations on CENTRICA PLC
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Financials
Sales 2022 22 601 M 27 821 M 27 821 M
Net income 2022 1 645 M 2 025 M 2 025 M
Net cash 2022 212 M 261 M 261 M
P/E ratio 2022 3,76x
Yield 2022 3,00%
Capitalization 5 862 M 7 216 M 7 216 M
EV / Sales 2022 0,25x
EV / Sales 2023 0,21x
Nbr of Employees 19 899
Free-Float 99,9%
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Technical analysis trends CENTRICA PLC
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 15
Last Close Price 101,35 GBX
Average target price 130,93 GBX
Spread / Average Target 29,2%
EPS Revisions
Managers and Directors
Christopher OĺShea Group Chief Executive Officer & Executive Director
Katherine Beresford Ringrose Group Chief Financial Officer & Executive Director
Jonathan Scott Wheway Chairman
Chetan Ghosh Chief Investment Officer
Kevin O'Byrne Senior Independent Director
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