Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Transportation says it received lesser number of complaints from consumers about airline services in August. In August, DOT received 1,712 complaints about airline service from consumers, down 1.0% from the total of 1,730 filed in August 2018 and down 8.7% from the 1,875 received... Shares of Netflix Inc. (NFLX) jumped 7% in extended trading session Wednesday after the online-video streaming giant said it added more subscribers in the third quarter after a disappointing previous quarter. The company's third-quarter earnings topped Wall Street estimates, as revenues surged 31%. Netflix... Alcoa Corp. (AA), the largest producer of aluminum in the US, Wednesday posted a wider-than-expected loss for the third quarter, reflecting a drop in revenues as well as one-time charges related to two smelters in Spain. The company also announced a "portfolio review" of its smelting and refining capacity...
Follow RTT