Fortum sells Finnish power distribution grid for $3.5 bln: Reuters
State-controlled Finnish utility Fortum has agreed to sell its local power distribution grid to a consortium of institutional investors led by First State Investments and Borealis Infrastructure for 2.55 billion euros ($3.5 billion), reports Reuters. The deal is the latest in a series of regulated distribution network sales made by large energy firms wanting to cut debt and focus on their power generation businesses instead. First State, an asset management business owned by Commonwealth Bank of Australia, and Borealis Infrastructure, owned by Canadian pension fund OMERS, both have a 40 percent stake in the buying consortium called Suomi Power Networks.
12 December 2013•2 mins read
