Agence France-PresseDecember 12, 2013 10:53
A consortium including Canadian and Australian funds has paid $3.51 billion for the Finnish electricity distribution business of Fortum, the Finnish company said on Thursday.
The deal closed at 2.55 billion euros ($3.51 billion) and the transaction is to be completed in the first quarter of 2014, with the transfer of 320 employees.
Fortum's power grid accounts for 20 percent of the country's electricity consumption.
The buyer, Suomi Power Networks, is a consortium created for the occasion.