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Z Energy investment in Flick Electric ‘unconvincing’

Z Energy appears to have paid a full price for its 70.1 percent stake in start-up power retailer Flick Electric without a clear path to making "a return on its (substantial) investment that will be material to its business," says Woodward Partners energy analyst John Kidd in a note to clients, published this week.

"Synergies between the businesses are not obvious and if there are any, the deal value would appear as though Z has paid for (rather than realised) the benefit of those synergies," said Kidd

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