Centrica is to pay $300m cash to buy US electricity supplier Strategic Energy, as part of the group’s North American expansion strategy. British Gas’s owner said it would merge Strategic Energy and Direct Energy, its US subsidiary, to form “a top-three supplier of energy” to the North American commercial and industrial market. Centrica generated about a quarter of its sales in North America last year.

This entry was posted by Gwen Robinson on Friday, April 4th, 2008 at 5:30 and is filed under M&A. Tagged with centrica, Strategic Energy. Edit this entry.