Scottish SSE to sell its energy retail business to Bristol-based Ovo


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Scottish SSE to sell its energy retail business to Bristol-based Ovo

SEE Plc., a Scottish energy company headquartered in Perth, had confirmed on Saturday, the 10th of August 2019, that, the company had been in an advanced stage talk with Bristol-based UK energy major to sell its energy retail wing, which has been serving more than 5.7 million households in the United Kingdom.

Adding that the negotiation had yet to brew an auspicious outcome, however, the talks were progressing well, the Perth-based energy company, SSE said in its Saturday’s (August 10th) statement, “These discussions are continuing, however no final decisions have been taken and no agreements regarding the terms of any transaction have been entered into.

The board remains focused on securing the best long-term future for the business, its customers and employees, and for shareholders. ” Nonetheless, the Bristol-based energy company, OVO, the largest independent energy supplier in the United Kingdom with more than 1.5 million consumers, had not responded immediately while being asked for comments, however, an OVO spokeswoman neither acknowledged nor denied possibility of a takeover bid for SSE’s energy retail business, but, confirmed that negotiations of an acquisition deal had been advancing well and a deal might be announced as early as next week, if the rivals could find a way around to resolve their deep differences to ink a deal.