Finland's Elenia Oy closing in on €3bn sale

By Ben Mouncer

Elenia Oy is nearing its long-awaited sale as major Chinese energy companies prepare bids that could reach €3bn. 

Finland's second largest power operator has been looking for a buyer since the early part of 2016, when it enlisted Goldman Sachs and Citi to oversee the process. 

China Southern Power Grid Co. and China Yangtze are understood to be frontrunners to secure the deal, with Elenia having requested for bids to be submitted by the middle of October.

See also:


The sale has also attracted interest from State Grid and CK Infrastructure Holding Ltd., with State Grid themselves having completed a number of similar acquisitions in recent years.

According to data compiled by Bloomberg, Chinese firms have confirmed $17.2bn worth of outbound utilities acquisitions in the last 12 months alone.

Elenia operates across Finland, powering 420,000 homes and offices in over 100 municipalities in the Scandinavian country.

Share

Featured Articles

Age of the CISO – a new chapter for cyber security

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Exclusive: Making the UAE a global force in cybersecurity

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on plans to build the world’s most secure digital society for a safer society

UAE cyber leaders – back to basics to prepare for the future

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the future of cybersecurity

Top 10: Procurement & Supply Chain LIVE speaker highlights

Leadership & Strategy

10 apps to improve wellbeing on World Mental Health Day

Leadership & Strategy

Meet the COO: Brook Sims of MAC Diversity Recruiters

Leadership & Strategy