ao link
Credit Strategy homepage
Intelligence, insight and community
for credit professionals

Dear visitor,
You're reading 1 of your 3 free news articles this quarter

 

Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.

 

Join the UK's leading credit and lending community in less than 60 seconds.



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 Twitter

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

Stay up-to-date with the latest articles from the Credit Strategy team

Credit Strategy

Member of

Get the latest industry news 

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, 1-2 Paris Garden, London, SE1 8ND. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group

We use cookies so we can provide you with the best online experience. By continuing to browse this site you are agreeing to our use of cookies. Click on the banner to find out more.
Cookie Settings