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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."

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