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SSE Plc To Sell Its SSE Energy Services Unit - Quick Facts

SSE plc (SSE.L) has agreed to sell its SSE Energy Services unit to a subsidiary of OVO Group Limited, at an enterprise value of 500 million pounds. The consideration include 400 million pounds in cash and 100 million pounds in loan notes. An amount of 59 million pounds will be deducted from the cash consideration for debt like items. The Group will use the cash proceeds to reduce net debt.

Alistair Phillips-Davies, Chief Executive of SSE, said: "Following the transaction, SSE will be able to give an even greater focus to delivering the low carbon infrastructure needed to help the UK reach net zero emissions."

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