Fortum to sell its Finland power distribution grid

Finland's state utility Fortum will sell its electric power grid to a group of international investors for $3.5 billion.

Canada's Borealis Infrastructure and Australia's First State Investments are the leading the group. The sale was launched in September 2013.

Fortum is also exploring selling its distribution grids in Norway and Sweden, according to reports.

The Finnish grid is worth some $447.7 million in sales, and covers about 20 percent of the country's distribution. Analysts have valued Finland's T&D network at about $12.4 billion, according to reports.

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