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Ireland's ESB Energy merges with UK's So Energy

·1-min read

(Corrects name of company to ESB Energy in headline from SEB Energy)

LONDON (Reuters) - Irish power supplier ESB Energy has merged with UK supplier So Energy, with ESB becoming a majority shareholder, the firms said on Friday.

ESB Energy has acquired more than a 75% shareholding in So Energy for an undisclosed sum. The two companies will merge and trade under the So Energy brand, supplying power to 310,000 domestic customers.

Both companies supply 100% renewable electricity.

"It’s our ambition to build on the success So Energy has achieved in a very competitive market, but one we are confident has excellent potential for our business," said Monica Collings, Managing Director of ESB Energy.

There are around 50 energy suppliers in Britain.

(Reporting by Nina Chestney; Editing by Kirsten Donovan)

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