SSE is exercising its pre-emption right in the sale of Fluor Ltd.'s 50% share in Seagreen Wind Energy Limited, established to develop offshore wind projects in the Firth of Forth Zone. SSE already holds the other 50% share of the joint venture and will purchase Fluor's share for a single payment of £118m. The transaction is subject to approval from Crown Estate Scotland, the public body that manages leasing of Scotland's seabed. The future ownership structure will be further reviewed in the coming months with the view to maximising value for SSE shareholders.
Increasing its share in Seagreen is in line with SSE's offshore wind ambitions and with the Group's broader strategy to create value for shareholders and society from developing, owning and operating energy and related infrastructure and services in a sustainable way, with regulated energy networks and renewable energy at its core.
https://www.investegate.co.uk/sse-plc-- ... 00137795B/