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Drax Group offers to buy Opus Energy Group for 340 million pounds

Published 06/12/2016, 07:46
Updated 06/12/2016, 07:50
© Reuters.  Drax Group offers to buy Opus Energy Group for 340 million pounds

© Reuters. Drax Group offers to buy Opus Energy Group for 340 million pounds

(Reuters) - British company Drax Group Plc (L:DRX) said it has proposed to acquire privately held Opus Energy Group Ltd for 340 million pounds ($433.43 million) in a deal that would help it expand by supplying power to small-and-medium enterprises.

Drax said the deal would add about 130,000 customers to its accounts as Opus controlled about 8 percent of the non-domestic electricity supply market in the country.

Drax has also signed a deal to buy four open-cycle gas turbine plants with a total capacity of about 1,200 MW for an initial price of 18.5 million pounds, the company said in a statement.

It forecast full-year EBITDA at the lower end of market expectations.

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