Mandate VINGE ADVISES FORTUM with SALE OF Fortum Distribution

March 16, 2015

Fortum and a consortium consisting of the First Swedish National Pension Fund (12.5%), the Third Swedish National Pension Fund (20%) and Folksam (17.5%) as well as the international infrastructure investment company, Borealis Infrastructure Management Inc. (50%) signed a purchase agreement in respect of Fortum Distribution AB, a company which constitutes Fortum’s electricity network operation in Sweden. 

The total purchase price is EUR 6.6 billion (equivalent to approximately SEK 60.6 billion) on a cash free/debt free basis. Fortum anticipates that the transaction will be completed during the second quarter of 2015, provided that the requisite regulatory approvals and the agreement’s customary conditions are fulfilled. Fortum anticipates reporting a non-recurring revenue item for the second quarter of 2015 of approximately EUR 4.4 billion, equivalent to approximately EUR 5 per share.

Vinge’s team consisted of responsible partner Johan Göthberg together with associates Gustav Jönsson and Andrea Jägerstedt (M&A), partners Jonas Eklund and Carl Johan af Petersens and Fredrik Lundblom as well as associates Emilie Håkansson, Helena Wanhainen and Johan Cederblad (regulatory). 

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