SSE Plc Enters Into An Agreement To Sell Its SSE Energy Services Business

SSE Plc (LSE: SSE), has entered into an agreement to sell its SSE Energy Services business to OVO Energy Limited. The total sale agreement entered by the companies is at an enterprise value of £500 million, which includes cash of £400 million and loan notes worth £100 million. The deal slated to conclude in late 2019 or in the first part of 2020 will be used to reduce SSE’s net debt.

On 13th September 2019, at the time of writing, GMT 12:28 PM, SSE shares were up by 16.00 points or 1.37% trading at GBX 1,182.00, against the closing price of the previous day.