Announced
Financials
Tags
Pending
Energy / Utility Services
heating solutions
Acquisition
district heating
heating services
Majority
Finland
Private
Single Bidder
Friendly
Private Equity
Domestic
Synopsis
Finnish pension agency Keva, infrastructure investor Infranode, and energy company Vantaa Energy, agreed to acquire the Jarvenpaa-Tuusula district heating business of Fortum, a utility service provider for $421m. The transaction is a continuation of Fortum’s strategy execution, whereby Fortum continuously reviews its businesses to optimise its portfolio for value creation. “With this important investment we continue in our effort to be a preferred infrastructure investment partner to Finnish municipalities. We are very happy for doing this investment in partnership with Vantaa Energy as co-owner and operating partner offering attractive synergies,” Carl-Emil Lindholm, Infranode Director.
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