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MarketScreener Homepage  >  Equities  >  Xetra  >  Innogy SE    IGY   DE000A2AADD2

INNOGY SE

(IGY)
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SSE confirms it is in talks with OVO to sell energy retail business

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08/10/2019 | 07:14pm EDT
FILE PHOTO: An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry

LONDON (Reuters) - British energy supplier SSE said on Saturday it was in talks with OVO Group about the sale of its energy retail arm which serves 5.7 million households in Britain.

"These discussions are continuing, however no final decisions have been taken and no agreements regarding the terms of any transaction have been entered into," SSE said in a statement, which did not give financial details from the talks.

"The board remains focussed on securing the best long-term future for the business, its customers and employees, and for shareholders."

OVO is already the largest independent energy supplier in Britain with more than 1.5 million customers.

The talks were first reported by Sky News, which said SSE and OVO have been in discussions for months about a deal that was likely to cost OVO "several hundred million pounds".

Earlier this year, Sky News reported that SSE had approached companies including broadband provider TalkTalk Telecom Group about a deal to shed its retail arm. In December, SSE and energy group Innogy SE scrapped plans to merge their British retail operations after the industry regulator proposed a cap on consumer bills, leaving them looking for other consolidation options.

(Reporting by Michael Holden in London and Kanishka Singh in Bengaluru; editing by Jonathan Oatis)

Stocks mentioned in the article
ChangeLast1st jan.
INNOGY SE 0.14% 43.56 Delayed Quote.6.95%
SSE PLC 0.27% 1107 Delayed Quote.2.36%
TALKTALK TELECOM GROUP PLC 1.62% 100.6 Delayed Quote.-11.68%
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Financials (EUR)
Sales 2019 37 120 M
EBIT 2019 2 253 M
Net income 2019 945 M
Debt 2019 16 487 M
Yield 2019 2,76%
P/E ratio 2019 26,2x
P/E ratio 2020 24,6x
EV / Sales2019 1,10x
EV / Sales2020 1,16x
Capitalization 24 200 M
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Technical analysis trends INNOGY SE
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Mean consensus HOLD
Number of Analysts 16
Average target price 38,46  €
Last Close Price 43,50  €
Spread / Highest target 8,05%
Spread / Average Target -11,6%
Spread / Lowest Target -28,7%
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Managers
NameTitle
Uwe Tigges Chairman-Executive Board & Chief Executive Officer
Erhard Walter Schipporeit Chairman-Supervisory Board
Hildegard Müller Chief Operating Officer-Grid & Infrastructure
Martin Friedrich Herrmann Chief Operating Officer-Retail
Hans Friedrich Bünting Chief Operating Officer-Renewables
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