British Independent Energy Supplier in Stake Sale Talks

Independent British energy supplier Ovo Energy, one of the leading challengers to the country's big-six energy groups, is in talks to sell a minority stake in a deal that would value it at more than 200 million pounds ($300 million), Sky News said.

A spokeswoman for Ovo confirmed the company was in talks with a third party but refused to provide any more details.

Sky News, citing sources close to the deal, said the supplier was in advanced talks about the sale of a minority stake to private equity firm Mayfair Equity Partners that would value the whole company at more than 200 million pounds.

The deal will involve the purchase of a small number of shares owned by Ovo Energy founder and Chief Executive Stephen Fitzpatrick, the news channel reported.

Fitzpatrick said last year he was planning to take his company public by February 2016 to fund expansion and to give employees more ownership.

Reporting by Karolin Schaps