Goldman, 3i and Borealis bid for Swedish electricity grid owned by Fortum
Two consortia are biding for the Swedish electricity grid of Finnish utility Fortum, ahead of the deadline (11 March 2015).
The two teams are the following:
- The Ontario Municipal Employees Retirement System (OMERS), Borealis, and a group of Swedish pension funds.
- Goldman Sachs Group Inc.'s infrastructure arm, 3i Group 's infrastructure arm and sovereign wealth funds
According to sources, Macquarie Group Ltd., and and Hong Kong-based CKI, had previously showed interest in the asset but they left the bidding process in early February.
The preferred bidder is expected to be announced on 31 March 2015, during Fortum's annual shareholders' meeting.
The transaction, which could be one of the biggest utility deals in 2015, is valued at about €6 billion (US$6.5 billion). Fortum has plans to use the funds to cut debt and focus on power generation and renewable energy.
In December 2013 the firm previously sold its distribution business in Finland to a group of investors led by First State Investments and Borealis Infrastructure for €2.55 billion (US$2.76 million).
Country news
-
-
March 16, 2015
Borealis Infrastructure announces acquisition of Fortum Distribution AB
A consortium led by Borealis Infrastructure Management Inc, has acquired 100% of the shares of Fortum Distribution AB, Fortum's electricity distribution networks in Sweden. Read more -
April 30, 2015
EQT Partners to raise Infrastructure Fund
Swedish private equity group EQT Partners AB has plans to raise a new multibillion euro infrastructure fund, which would be the first infrastructure fund for the firm after EQT Infrastructure I and II. Read more -
June 09, 2015
Sweden to boost infrastructure investments
According to Sweden's Infrastructure Minister, Anna Johansson, the government has plans to seek private investment to develop high-speed railways among other infrastructure projects. Read more -
June 15, 2015
Infranode appoints former Swedish Minister as Senior Advisor
Infranode has announced the appointment of Mr. Allan Larsson to its Senior Advisory Team, where he is already a member since 2014. Read more -
July 16, 2015
WSP acquires Nordic project management firm
WSP Global has announced the acquisition of Faveo Group, a project management company based in Norway and Sweden. Read more
