SSE PLC (SSE.LN), an electricity and gas company, said Wednesday that through its subsidiary Airtricity Energy Supply Ltd, has entered into an agreement with Phoenix Energy Holdings Ltd, a Terra Firma company, to acquire the entire issued share capital in Phoenix Supply Ltd, a regulated supplier of natural gas to 130,000 customers in Northern Ireland.

MAIN FACTS:

-In addition SSE, through its Republic of Ireland-registered subsidiary Airtricity Ltd, has agreed to acquire Phoenix Energy Ltd, which supplies gas in the Republic's deregulated commercial supply market.

-The total cash consideration is GBP19.1 million excluding working capital related adjustments.

-The acquisition is subject to approval by the Irish Competition Authority and SSE expects to complete the purchase during the summer.

-SSE shares closed Tuesday at GBP13.25 pence, valuing the company at GBP12.52 billion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com