Roschier advised Fortum in the sale of its district heating business in Järvenpää, Finland
Fortum has signed an agreement to sell its district heating business in the Järvenpää-Tuusula area in Finland to a consortium consisting of Vantaa Energy Ltd, Infranode, and Keva. Roschier advised Fortum in the transaction.
The total consideration on a debt- and cash-free basis is approximately EUR 375 million. The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2020.
In 2019, Fortum produced approximately 330 GWh of heat and approximately 90 GWh of power in Järvenpää. The divestment marks a continuation of Fortum’s strategy execution, whereby Fortum continuously reviews its businesses to optimize its portfolio for value creation.
Roschier’s advisory team mainly consisted of Antti-Jussi Partanen, Toni Siimes, Mika Ohtonen, Ami Paanajärvi, Vesa Rasinaho, Andreas Bussman, Jaakko Huhtala, Jenni Rosenlöf, Alisa Montonen, Anniina Kunnaton, Harri Puskala, Helinä Pohto, Kristina Leibssle, Karoliina Matinmikko, Elmiira Kutvonen and Pauliina Vilponen.