By Tapan Panchal

LONDON--Scottish energy company SSE PLC (SSE.LN) has agreed to sell a 16.7% stake in gas-distribution business Scotia Gas Networks Ltd. to units of the Abu Dhabi Investment Authority for 621 million pounds ($757 million).

SSE said Monday it would retain a 33.3% equity stake in Scotia Gas Networks following the sale and set out what it intends to do with the sale proceeds in its interim results announcement on Nov. 9.

The company expects to complete the sale by the end of October.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

October 17, 2016 02:36 ET (06:36 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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