Borenius advises Väre Oy on the acquisition of the retail electricity sales business of Tampereen Energia Oy

We are currently advising Väre Oy on the purchase of the retail electricity sales business of Tampereen Energia Oy. As a result of the transaction, the electricity sales agreements of approximately 100,000 business and consumer customers will transfer from Tampereen Energia to Väre at the beginning of July 2024. As a notable transaction in the Finnish retail electricity market, the completion of the sale and purchase is subject to approval by the competition authority.

Väre has been seeking opportunities for expansion, and considers the acquisition of Tampereen Energia’s retail electricity sales business as one of the most interesting prospects in this regard. Väre aims to improve the competitive ability of Finnish companies in the energy market and as part of a larger trend in Finland, wishes to expand its operations in order to develop its products and services to better meet the diverse needs of retail customers.

Väre is an independent joint venture established in 2018 and owned by Savon Voima Oyj, Kuopion Energia Oy, Alva-yhtiöt Oy, Lappeenranta Energia Oy and Kymenlaakson Sähkö Oy. Väre is a domestic, modern energy services company with a particular emphasis on sustainable development, and it is one of the largest electricity retailers in Finland.

Tampereen Energia Oy is a modern energy group that employs nearly 400 renewable energy professionals and continues to produce and distribute heat and electricity in the Pirkanmaa region.