Jackpot deal for Swedish state owned Vattenfall in FinlandFriday, 16 December 2011
The Swedish state-owned energy giant, Vattenfall has sold its electricity network and its district heating operations in Finland to €1.54 billion, or about Skr14 billion.
AdvertisementThe buyer is LNI Acquisition, a consortium including venture capital Company 3i is. The deal is expected to be completed during the first quarter of 2012, writes Vattenfall in a statement.
Vattenfall retains its electricity and its hydroelectric plant in Finland.
"After our new strategic direction, we will continue to participate in the Finnish market, but from now on only in the sale of electricity and hydropower production," writes Vattenfall's CEO Øystein Løseth in a statement.
LNI Acquisition consists of 3i Infrastructure, 3i Group, GS Infrastructure Partners and Ilmarinen Mutual Pension Insurance Company.
By Scancomark.se Team
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