Flowgroup to sell main subsidiary to Co-op as price cap looms

Flowgroup's shares plummeted on Tuesday after the company announced its intention to sell its main subsidiary, Flow Energy Limited, in the face of government energy price caps. Flow Energy, which has 130,000 customers in the UK, is set to be sold to Co-operative Energy Limited for £9.25m following the creation of a conditional sale and purchase agreement, subject to adjustments to reflect the crystallisation of payments to suppliers, working capital and other factors. A statement from Flowgroup ...

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