SSE retail sale to Ovo cleared by UK regulator
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Ovo Energy’s £500m takeover of SSE’s retail arm has been cleared by the Competition and Markets Authority, officials said on Tuesday.
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SSE agreed in September to sell the consumer business to Ovo for £400m in cash and £100m in loan notes.
SSE chief executive Alistair Phillips-Davies said the company expected the deal to complete around mid-January 2020.
"Completion of the transaction will give SSE even sharper focus to delivering the low carbon infrastructure needed to help the UK reach net zero emissions.”
“We have a clear strategy around developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core," he said.