Octopus Energy to Spin Off Kraken in Deal Valuing Platform at $8.65 Billion [Yahoo! Finance]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
US:NYSE Investor Relations:
investors.nationalgrid.com
Company Research
Source: Yahoo! Finance
The $1 billion equity raise was led by D1 Capital Partners, with participation from Fidelity International, Durable Capital Partners, and Ontario Teachers' Pension Plan Board. The transaction sets Kraken on a path to full independence, with its own governance, leadership, and capital structure, while Octopus Energy will retain a 13.7% minority stake following the demerger. Alongside the Kraken investment, Octopus Energy investors are injecting an additional $320 million directly into Octopus to fund innovation and expansion across its retail, generation, and clean technology operations. Combined, the transactions nearly double the group's balance sheet strength. Kraken has emerged as one of the most significant technology platforms in the global utilities sector, positioning itself as a neutral, AI-driven operating system for energy companies. Originally incubated inside Octopus Energy, Kraken is now contracted to serve more than 70 million customer accounts worldwide through li
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NGG
Sec Filings
- 1/14/26 - Form 6-K
- 1/12/26 - Form 6-K
- 1/12/26 - Form 6-K
- NGG's page on the SEC website