SSE : Sale of SSE’s equity share in MapleCo

SSE, OMERS and Ontario Teachers', the co-founding shareholders in leading meter asset provider MapleCo, have agreed the sale of a 100% equity interest in the company to Equitix.

Further details can be found in a joint statement issued by the companies today.

Based on its 33% equity share, SSE will receive net proceeds of around £90m on closing, expected by the end of 2020.

The transaction is consistent with SSE's plan to secure value from disposals of non-core assets in order to recycle capital and sharpen its focus on businesses core to the transition to net zero emissions.