Business
Origin (ASX:ORG) share price on watch today after this announcement
Origin Energy Ltd (ASX: ORG) has announced that it will invest an additional £36 million (A$65 million) in Octopus Energy to maintain its 20% equity stake.
This follows a partnership between Octopus and Tokyo Gas that will see the launch of Octopus into the Japanese market.
The Origin share price will be on watch when the ASX market opens this morning, after closing at $4.79 on Wednesday.
What’s the deal?
Under the agreements, leading Japanese utility Tokyo Gas will take a 9.7% equity share in Octopus for a consideration of US$200 million.
Octopus and Tokyo Gas will also establish a new retailer, TG Octopus Energy, that will pursue growth in Japan, one of the world’s biggest energy markets comprising 83 million electricity…
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