Slaughter and May is advising Ovo Energy on its purchase of SSE plc’s GB household energy and services business

Slaughter and May is advising Ovo Energy, the UK’s leading independent energy supplier, in connection with its purchase of SSE plc’s GB household energy and services business, for consideration of £500m, comprising £400m in cash and £100m in loan notes. Together, the businesses serve almost 5m customers across the UK.

Completion of the transaction is expected in late 2019 or early 2020 and is subject to certain regulatory approvals.

Slaughter and May worked closely with Ovo’s internal deal team comprising Vincent Casey, Daphne Yao, Sanjay Verma, Matt Johnson and Steve Ackroyd.