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Shell to Sell Home Energy Business in UK, Germany

Sept 1 (Reuters) - Shell said on Friday it would sell its home energy business in the UK and Germany to British energy supplier Octopus Energy Octopus Energy Group as part of a deal in which the two companies explore a partnership on EV charging.

The businesses -- Shell Energy Retail Limited in the UK and Shell Energy Retail GmbH in Germany -- provide domestic gas, power and broadband services to about two million customers and operate under the Shell Energy brand.

Shell and Octopus have also signed a memorandum of understanding to explore a potential international partnership over electric vehicles (EV) charging, including for Shell Recharge subscribers, Shell said.

The deal is expected to be completed in the fourth quarter of 2023, subject to regulatory approval.

Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza

Source: Reuters

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