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.


Featured Articles

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

As Saudi pushes for more nationals and women in the workplace, all eyes are on the Kingdom’s HR leaders. Here, 10 female HR execs leading the transition

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy

Top 10 Executive MBA programmes in the United Arab Emirates

Leadership & Strategy