Shell to Sell Home Energy Unit in UK, Germany to Octopus Energy

Shell Plc agreed to sell its home energy retail business in the UK and Germany to Octopus Energy Group Ltd. for an undisclosed sum.

The deal marks the end of an expensive foray into the direct supply of natural gas and power to households through the Shell Energy Brand. Under new Chief Executive Officer Wael Sawan, the London-based company is refocusing on its core business in an effort to boost returns to investors.