Z Energy invests $46M for control of Flick Electric

Sun, 26 Aug 2018

By Gavin Evans Aug. 27 (BusinessDesk) - Z Energy has agreed to acquire a 70 percent stake in spot-based electricity retailer Flick Energy as part of its strategic investment in alternative fuels and mobility. The country’s biggest fuel retailer has agreed to invest $46 million in the four-year-old power retailer. It will inject $15.6 million of new equity for a 22 percent interest. It will then pay an additional $30.4 million for 48.1 percent of the existing shares. Board changes will be made in the next quarter to reflect Z Energy’s m...

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