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Fortum near sale of Finnish grid for more than 2 bln euros -sources
December 11, 2013 / 4:01 PM / in 4 years

Fortum near sale of Finnish grid for more than 2 bln euros -sources

STOCKHOLM, Dec 11 (Reuters) - Finnish utility Fortum is in exclusive talks to sell its power grid in Finland for more than 2 billion euros ($2.75 billion) to a consortium led by the First State and Borealis infrastructure funds, two people familiar with the matter said.

One of the sources, who declined to be identified because the process is not public, said a sale could be announced in the coming days.

Macquarie European Infrastructure Funds and Cheung Kong Infrastructure (CKI), an investment entity controlled by Hong Kong Billionaire Li Ka-Shing, also submitted final bids, the people said.

Fortum and First State declined to comment. Borealis, Macquarie and CKI did not immediately respond to a request for comment.

The state-controlled utility launched a sale of the grid in September, inviting first-round bids from prospective buyers in mid-October, according to sources. (Reporting by Sven Nordenstam, additional reporting by Ritsuko Ando in Helsinki; Editing by Anthony Barker)

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