Centrica subsidiary sells Ontario home services business

25th Jul 2014 07:18

Direct Energy, the North American subsidiary of Centrica, has agreed to sell its Ontario home services business to EnerCare for £300m. The group said the deal offered "an attractive opportunity" to realise value from the Canadian home services business. "With our activities in Ontario no longer forming a material part of the business, we will focus our attention on opportunities in the United States and Alberta, through a range of innovative products, including combined energy and services offerings," Direct Energy's President Badar Khan explained. NR