logo
Plus   Neg
Share
Email

SSE Plc Completes Sale Of SSE Energy Services To OVO Energy In £500 Mln Deal

Electric utility SSE plc (SSE.L) announced Wednesday the completion of the sale of its household energy and services business, SSE Energy Services Group Limited, to OVO Energy Limited for an enterprise value of 500 million pounds.

The net proceeds of the deal will be used to reduce SSE's net debt.

Completion of the sale enables SSE to strengthen its focus on delivering the low-carbon infrastructure needed to help the UK reach net zero emissions.

Alistair Phillips-Davies, Chief Executive, said, "The sale is in line with our clear strategy, centred on developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Missouri City, Texas-based Adco Trading Inc. has recalled about 142,740 units of candles citing fire and burn risks, according to the U.S. Consumer Product Safety Commission. The recall involves Sure Scents 2-1 Peaceful Stream/Moonlit Waves Candles. The affected items were manufactured in United States and sold exclusively at Dollar Tree stores across the country from July 2020 through September 2 United Parcel Service imposed temporary shipping restrictions on some big retailers such as Nike, Macy's and Gap, due to the increased demand for online orders and delivery in this holiday season, media reports said quoting an email statement issued by the delivery giant. An advisory panel to the Centers for Disease Control and Prevention has proposed that healthcare workers and long-term facility residents be given the first doses of the COVID-19 vaccine when it is cleared for public use in the U.S. The CDC's Advisory Committee on Immunization Practices met virtually on Tuesday and panel passed the proposal 13-1.
RELATED NEWS
Follow RTT