Swindon & Wiltshire News
Ovo Energy reported to have bought brand from founder in £150 million deal
Bristol-based energy supplier Ovo Energy has struck a £150 million deal to acquire its brand from the company’s founder, Stephen Fitzpatrick, according to reports.
According to Sky News, Ovo has agreed a non-cash transaction with the founder to take control of its brand through the issuance of preference shares.
In 2020 Ovo took over SSE’s energy retail business to become the UK’s fourth-largest household energy supplier.
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