First Sentier Investors to acquire a 50% stake in Ferrybridge Multifuel and Skelton Grange Multifuel from SSE for £995m.

First Sentier Investors, a global asset management business, agreed to acquire a 50% stake in Ferrybridge Multifuel and Skelton Grange Multifuel, two energy-from-waste ventures, from SSE, an energy company headquartered in Perth, Scotland, for £995m ($1.3bn). The transaction assumes a completion date of November 30, 2020. The transaction is subject to approval by the European Commission, under the European Union Merger Regulation framework. “This sale marks a major step in our plans to secure at least £2bn ($2.6bn) from disposals by autumn 2021, with just over £1.4bn ($1.8bn) now delivered. While these multifuel assets have been successful ventures for SSE, they are non-core investments and we are pleased to have agreed a sale that delivers significant value for shareholders while sharpening our strategic focus on our core low-carbon businesses," Gregor Alexander, SSE Finance Director.