Consortium of investors to acquire district heating business of Fortum for $421m.

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.