Fortum Gets $3.5B For Finnish Electricity Grid Co.

Law360, New York (December 12, 2013, 1:41 PM EST) -- Finnish energy company Fortum Corp. will sell its Finland-based electricity distribution business to Suomi Power Networks Oy for €2.55 billion ($3.51 billion), the company said Thursday, as part of the power giant's planned divestment of a number of its electricity assets.

The deal is expected to close during the first quarter of 2014 and will give Suomi Power Networks Oy, a consortium comprised of two Finnish pension funds and two international infrastructure investors, control of an electricity distribution business that delivers about 12.6-terawatt-hours of electricity to...
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