DCC-backed Flogas to acquire the energy management division of eEnergy for £40m.

DCC-backed Flogas agreed to acquire the energy management division of eEnergy, the net zero digital energy services provider, for £40m. "I am pleased to announce this agreement to sell our Energy Management Division to Flogas. Once approved by Shareholders, the Transaction will unlock significant immediate cash for eEnergy and give the opportunity to deliver significant additional value to shareholders through the Earnout Period. Whilst Energy Management is the smaller by revenue of our two divisions, the initial transaction proceeds alone will be c. 90% of eEnergy's current market capitalisation," Harvey Sinclair, eEnergy CEO.