SSE PLC Statement re CMA Provisional Findings

TIDMSSE

RNS Number : 2029Z

SSE PLC

30 August 2018

Statement re CMA Provisional Findings

SSE plc (SSE) notes the Competition and Markets Authority (CMA)'s publication of the Provisional Findings from its inquiry into the proposed merger of SSE Energy Services, SSE's household energy and services business in GB, and Innogy SE (innogy)'s retail business, npower.

Commenting on the publication, Alistair Phillips-Davies, Chief Executive of SSE plc, said:

"Following a thorough and in-depth investigation, we are pleased the CMA has provisionally concluded that the proposed merger of SSE Energy Services and npower does not raise competition concerns.

"The scale and pace of change in the GB energy market continues to be significant and requires us to evolve to stay relevant, competitive and sustainable. The planned transaction presents a great opportunity to create a more agile, innovative and efficient company that really delivers for customers and the energy market as a whole."

"We look forward to continuing to engage with the CMA as it prepares its Final Report ahead of the statutory deadline in October. We remain confident that the formation and listing of the new company is on track for completion by the end of SSE's financial year."

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

STRLFFSITDIAFIT

(END) Dow Jones Newswires

August 30, 2018 02:32 ET (06:32 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.