Shell has staked a claim in the Australian power sector by making a US$419-million (A$617 million) takeover offer for the country’s second-largest energy retailer to businesses, ERM Power. “This acquisition aligns with Shell’s global ambition to expand our integrated power business and builds on Shell Energy Australia’s existing gas marketing and trading capability,” the head of Shell Australia, Zoe Yujnovich said in a statement, as quoted by Reuters.
Source: Shell Takes Step Toward Becoming World’s Largest Power Utility
