0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

CMA to investigate Ovo-SSE deal

The Competition and Markets Authority (CMA) is to investigate Ovo Energy’s £500m deal to acquire SSE’s retail business.

Share on LinkedInShare on TwittereCard

The acquisition would make Ovo the UK’s second-largest energy provider with approximately five million customers.

 

The CMA said it would examine whether the deal could result “in a substantial lessening of competition” within the energy market.

 

Ovo is already the UK’s largest independent energy supplier, with 1.5 million customers and around 2,000 employees. Under the deal, it will take on SSE’s 3.5 million customers and 8,000 staff, making it second only to British Gas.

 

The deal comprises £400m cash and £100m in loan notes and is expected to complete in late 2019 or early 2020.

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group