StockMarketWire.com - Power utility SSE said it had completed the sale of retail unit SSE Energy Services to OVO Energy, for £500m including debt, following receipt of regulatory approvals.

Proceeds from the deal would be used to trim SSE's debt load.

'The sale is in line with our clear strategy, centered on developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core,' chief executive Alistair Phillips-Davies said.

'SSE enters the new decade as a more focused group, even better positioned to lead the low carbon transformation required to achieve the UK's vital net zero commitment in the years to come.'



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