Borenius advised abrdn on its acquisition of a 49% stake in Etelä-Savon Energia

We advised abrdn’s third Core Infrastructure Fund, ASCI III, on its acquisition of a 49% stake in Etelä-Savon Energia Oy, a regional energy business based in the City of Mikkeli in Eastern Finland.

Etelä-Savon Energia has approximately 2,500 district heating and 25,000 electricity distribution connections. The company produces, sells, and distributes heat and electricity in an efficient and reliable manner to its customers in the Mikkeli region while simultaneously playing a leading role in the reduction of emissions in the wider region.

In addition, Etelä-Savon Energia also has an electricity distribution network of approximately 1,000 km and a district heating network of approximately 210 km. The heat is sourced locally and from environmentally friendly fuel sources.

The company will benefit from the shareholder group sharing a joint objective of (i) supporting the energy transition in the region through the production of renewable energy and (ii) ensuring the sustainable growth of the company through the supply of safe, local, and cost-effective heat and electricity solutions.

The completion of the transaction is subject to approval by the competition authorities and the fulfillment of other customary closing conditions.