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Mergers & AcquisitionsMedium•27 April 2026•

1 min read

German Energy Giant Nears £600 Million Acquisition of UK Supplier Ovo

Key Facts

1A German energy giant is nearing a £600mn deal to acquire the UK energy supplier Ovo.

2The takeover is expected to create a combined entity serving approximately 9.6mn customers.

A prominent German energy giant is reportedly in advanced talks to acquire Ovo, a leading UK energy supplier, in a deal valued at approximately £600 million. According to reports from the Financial Times, the acquisition is nearing completion and aims to consolidate market presence within the British utility sector. The potential takeover is expected to create a combined entity serving nearly 9.6 million customers across the United Kingdom. This move highlights a significant trend of M&A activity and consolidation within the energy retail market. Furthermore, the deal underscores sustained foreign investment interest in UK energy infrastructure despite broader economic headwinds. Analysts view this development as a bullish signal for the utilities sector, reflecting strategic growth through scale.