The sale comprises Vattenfall’s electricity distribution network and heat businesses in Finland, and the transaction will be accounted for in the first quarter of this year.
Vattenfall’s Finnish electricity sales organization as well as its hydro power operations will remain under the ownership of Vattenfall.
Vattenfall signed the sales agreement with the Lakeside Network Investments consortium in December 2011, for a total enterprise value of about EUR1.54bn.
Lakeside Network Investments is a consortium comprising of 3i Infrastructure, 3i Group, GS Infrastructure Partners and Ilmarinen Mutual Pension Insurance Company.
