Vinge has advised Fortum on the largest Nordic M&A transaction for approximately 10 years with a total purchase price of approximately SEK 60.6 billion.
Last Friday saw the completion of the almost one year long transaction pertaining to Fortum’s sale of the Swedish electricity distribution network to a consortium of buyers consisting of the First Swedish National Pension Fund (AP 1), the Third Swedish National Pension Fund (AP 3), Folksam and the Canadian infrastructure investment company, Borealis Infrastructure Management. As a result of the sale, Fortum is now able to focus its operations on growth and development of its core operations, i.e. CO2-free hydro, nuclear power generation and efficient combined heat and power (CHP) production.
A large project team at Vinge was involved in the transaction. Johan Göthberg was the responsible partner. “Fortum has been one of Vinge’s most prestigious and loyal clients for several years. Our central role in the transaction was evidence thereof and also of our specialist competence within the energy sector where knowledge and understanding of the industry and the regulatory issues are of decisive significance,” says Johan Göthberg.