Completion of the acquisition of Opus Energy Group

RNS Number : 6124W

Drax Group PLC

10 February 2017

 

10 February 2017

DRAX GROUP PLC

(Symbol: DRX)

Completion of the acquisition of Opus Energy Group Limited

Drax Group plc ("Drax") is pleased to announce that it has today completed the acquisition of the entire issued share capital of Opus Energy Group Limited (the "Acquisition").

The Acquisition was originally announced on 6 December 2016.

Dorothy Thompson, Chief Executive, Drax Group, said:

"Today we took another step forward in delivering our Group-wide strategy.  This addition to our existing retail offer will see our challenger brands, Opus Energy and Haven Power, working to provide the UK's businesses with affordable, reliable and renewable energy."

Enquiries:

Drax Investor Relations 

[phone]

Mark Strafford

J.P. Morgan Cazenove (acting as exclusive financial adviser to Drax in connection with the proposed acquisition of Opus Energy and as Drax's corporate broker):

[phone]

Robert Constant

Carsten Woehrn

Wendy Hohmann

Drax Media

[phone]

Paul Hodgson

Website: www.drax.com

Note:

(1)   J.P. Morgan Limited (which conducts its UK investment banking activities as J.P. Morgan Cazenove), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Drax and for no one else in connection with the Acquisition and will not regard any other person (whether or not a recipient of this document) as a client in relation to the Acquisition and will not be responsible to anyone other than Drax for providing the protections afforded to customers of J.P. Morgan Cazenove or for affording advice in relation to the Acquisition, the contents of this document or any transaction, arrangement or other matter referred to in this document.

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