SSE has just signed an agreement for the disposal of a 16.7% stake in Scotia Gas Networks Limited (SGN) to a fully-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for an all-cash consideration of £621m (including debt). The transaction is expected to be completed by the end of the month. SSE will retain a 33.3% stake in SGN. SSE will set out its intentions with regard to returning value to shareholders when the half-year results are released.
17 Oct 2016
Disposal of SGN obtains a good price, but slightly below our expectations
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Disposal of SGN obtains a good price, but slightly below our expectations
SSE plc (SSE:LON) | 1,650 0 0.0% | Mkt Cap: 18,042m
- Published:
17 Oct 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
SSE has just signed an agreement for the disposal of a 16.7% stake in Scotia Gas Networks Limited (SGN) to a fully-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for an all-cash consideration of £621m (including debt). The transaction is expected to be completed by the end of the month. SSE will retain a 33.3% stake in SGN. SSE will set out its intentions with regard to returning value to shareholders when the half-year results are released.