Energy group CNG appoints advisors as it faces uncertain future

The business energy supplier has reportedly appointed advisors to explore its options amid the soaring energy prices

The Big Zero report

North Yorkshire-based CNG Group has appointed Interpath Advisory to explore its options amid the surging wholesale energy prices.

The company, which is backed by Anglo-Swiss commodity trading giant Glencore, is a gas supplier for SMEs and also provides shipping services.

According to Sky News, the advisors will run a process that could involve a break-up or outright sale.

Based on information publicly available on the company’s social media channels, CNG has currently 50,000 customers and supplies almost one million meter points.

It also employs a team of 200 people.

A CNG spokesperson said: “CNG remains solvent, but the market conditions have led to the Board considering strategic options and so we have appointed Interpath Advisory to help with that evaluation.”

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