Centrica to sell US unit to NRG Energy for $3.6bn

FINANCIAL TIMES 🔒| Centrica will sell its US business to local group NRG Energy for $3.6bn in cash, in a move aimed at reducing the British Gas owner’s debt that pulls the plug on its international ambitions.

Shares in the company jumped as much as 34 per cent in early London trading on Friday, before settling roughly 22 per cent higher. Chris O’Shea, the chief executive who previously served as finance boss, said the £2.9bn disposal of Direct Energy was “aligned with [the company’s] strategy to become a simpler, leaner business”.

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