Infranode and Mirova – Purchase of Loiste Oy

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We assisted a consortium formed by French company Mirova and Swedish company Infranode in a transaction whereby the consortium purchased a 33.9% share of Loiste Oy, an energy company situated in Eastern Finland. The sellers were the town of Kajaani and the municipality of Sotkamo. The purchase price is approximately EUR 200 million. The parties signed the sale and purchase agreement on 17 April 2019, and the transaction is expected to be closed by the end of April. Following the transaction, Kajaani and Sotkamo will continue as Loiste’s majority shareholders.

Loiste Oy is a Finnish energy company with a turnover of approximately EUR 120 million in 2018. Loiste is Finland’s fifth largest electricity vendor.