U.K.-primarily based Centrica has arrived at an agreement to sell Direct Electricity, its North American subsidiary, to NRG Electricity for $3.63 billion.
Centrica, which declared the sale alongside with its fifty percent-12 months earnings, mentioned the offer signifies an company benefit of seven.9 periods its 2019 underlying adjusted EBITDA.
“We had a selection of expressions of fascination in Direct Electricity, but it came down to the proper value and the proper consumer,” Centrica Team main govt Chris O’Shea mentioned in a conference call.
The offer will come as Centrica is in the midst of a wider restructuring. Very last thirty