Shell to buy ERM Power for $617 million

SHELL has inked an agreement to acquire electricity retailer ERM Power as part of the company’s strategy to enter into the Australian retail energy market on the east coast.

Shell to buy ERM Power for $617 million Shell to buy ERM Power for $617 million Shell to buy ERM Power for $617 million Shell to buy ERM Power for $617 million Shell to buy ERM Power for $617 million

 

Under the agreement Shell is proposing to acquire 100% of the shares of ERM for $A617 million, or $2.465 per share.

The offer represents a 43% premium on ERM's last closing price and a 38.