(Dec 30): UK utility Octopus Energy Group Ltd has agreed to sell a stake in software unit Kraken Technologies at a valuation of US$8.65 billion (RM35.08 billion) as an initial step toward spinning the business off. In its first funding round, Octopus sold about US$1 billion of equity in Kraken to a consortium of new and existing shareholders, it said in a statement. The funding round is being led by D1 Capital Partners and new investors including Fidelity International, Durable Capital Partners and an arm of the Ontario Teachers’ Pension Plan Board. The demerger will enable Kraken to operate as a fully independent technology platform with its own governance and leadership, according to Octopus. After that, Origin will hold a direct interest of 22.7% in Kraken and 22.7% in Octopus.

Source: The Edge Markets December 30, 2025 10:29 UTC