Agreement to sell SSE Energy Services to OVO signedChristian Fernsby ▼ | September 13, 2019
SSE plc has entered into an agreement to sell its SSE Energy Services business to OVO Energy Limited, a wholly owned subsidiary of OVO Group Limited, at an enterprise value of £500m comprising £400m cash and £100m in loan notes.
Acquisition OVO Energy Limited
Topics: SSE energy OVO
On completion, the net cash proceeds of this transaction will be used to reduce SSE’s net debt. See Transaction Details below.
In the event of successful completion SSE will do all it can to ensure a smooth transition for customers and employees. In the meantime, SSE Energy Services remains focused on the important work of delivering its sector-leading service for its customers – for whom nothing changes in the short term. ■