London | The UK government will take a £25 million ($50 million) stake in Kraken, a British technology business partly owned by Origin Energy, as it tries to persuade the business to choose London for a future stock exchange listing.
Kraken was valued at $US8.65 billion ($12.8 billion) last month as part of a deal to sell a minority stake to a syndicate of investors, in the first standalone investment round for the software business since it was developed inside Octopus Energy, Britain’s biggest electricity supplier.
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Financial Times