CPP Investments will 6% stake in power supplier, providing backing to develop tech platform
Canada Pension Plan Investment Board (CPP Investments) has made an initial $300 million equity investment in Britain’s Octopus Energy Group as part of a long-term strategic partnership, the firms said on Friday.
Octopus said the deal with CPPIB would form part of a long-term partnership that would probably see the C$541bn Canadian fund “grow the level of committed capital over time” to support the British company’s expansion.
Octopus remains lossmaking, however. In the year to 30 April 2020, the last accounts available, it made a net loss of nearly £47m on revenue of £1.2bn although it attributed that to “continued investment in rapid growth”.
Read more/Source: Financial Times
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