Iberdrola has agreed to acquire Finland-based power distribution company Caruna in a deal that values the business at approximately €5bn, including financial debt.
As part of the agreement, Iberdrola will purchase 80% of Caruna's equity for €2bn, while Nordic pension funds AMF and Elo will continue to hold the remaining 20% stake.
Caruna operates as Finland's largest electricity distribution network, covering around 89,000km, with roughly two-thirds of the infrastructure laid underground.
The company supplies electricity to 1.5 million people, more than a fifth of Finland's population.
The acquisition is expected to close in the first quarter of 2027, subject to customary regulatory approvals.
#finland #nordic
As part of the agreement, Iberdrola will purchase 80% of Caruna's equity for €2bn, while Nordic pension funds AMF and Elo will continue to hold the remaining 20% stake.
Caruna operates as Finland's largest electricity distribution network, covering around 89,000km, with roughly two-thirds of the infrastructure laid underground.
The company supplies electricity to 1.5 million people, more than a fifth of Finland's population.
The acquisition is expected to close in the first quarter of 2027, subject to customary regulatory approvals.
#finland #nordic
2 months ago
