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| Name | Symbol | Market | Type |
|---|---|---|---|
| SSE PLC (PK) | USOTC:SSEZY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 23.46 | 20.00 | 25.00 | 0.00 | 11:00:33 |
From May 2019 to May 2024
By Ian Walker
The U.K. Competition and Markets Authority said Tuesday that it won't refer the sale of SSE PLC's (SSE.LN) energy-services business to Ovo Group Ltd. for further review.
The regulator said in October that it was considering whether the deal, if completed, would lessen competition within the U.K. for goods or services.
It said Tuesday the investigation has completed and it has now cleared the deal.
SSE said that it welcomed the CMA's approval and that it can now make final preparations to complete the sale which is expected mid-January.
"Completion of the transaction will give SSE plc even sharper focus to delivering the low carbon infrastructure needed to help the U.K. reach net zero emissions," Chief Executive Alistair Phillips-Davies said.
SSE said on Sept. 6 that it was selling the energy-services business to Ovo Group for 500 million pounds ($658 million). At the time SSE said it expected to complete the deal either late 2019 or early 2020, subject to necessary regulatory approvals.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
December 10, 2019 02:51 ET (07:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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