SSE concludes sale of its UK energy services business to OVO
SSE plc has completed the sale of SSE Energy Services Group Limited, its household energy and services business in UK, to OVO Energy Limited for an enterprise value of EUR500 million (US$652 million).
The net proceeds of the transaction will be used to reduce SSE’s net debt. In the period since SSE and OVO agreed on the sale in September 2019, the necessary regulatory approvals have been secured and joint integration planning has been undertaken to ensure a smooth transition for customers and employees.
Completion of the transaction enables SSE to strengthen its focus on delivering the low-carbon infrastructure needed to help the UK reach net-zero emissions.
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