SSE to Sell Part Stake in Gas-Distribution Business for GBP621 Million
October 17 2016 - 2:51AM
Dow Jones News
By Tapan Panchal
LONDON--Scottish energy company SSE PLC (SSE.LN) has agreed to
sell a 16.7% stake in gas-distribution business Scotia Gas Networks
Ltd. to units of the Abu Dhabi Investment Authority for 621 million
pounds ($757 million).
SSE said Monday it would retain a 33.3% equity stake in Scotia
Gas Networks following the sale and set out what it intends to do
with the sale proceeds in its interim results announcement on Nov.
9.
The company expects to complete the sale by the end of
October.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
October 17, 2016 02:36 ET (06:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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