Pylons

OFI InfraVia acquires electricity distribution network in Finland

Mon, 16/12/2013 - 06:34

OFI InfraVia’s European fund II (InfraVia II), its second European infrastructure fund, has acquired Outokumpu’s electricity distribution network located on the Tornio site in Finland.

With the transaction, a number of Outokumpu employees are transferring to RIG (Röyttä Industrial Grid), a new industrial electricity distribution company established by InfraVia II and which will continue to operate the network.
 
“RIG is an excellent electricity distribution asset with a strong contractual framework and an attractive investment profile, which aligns perfectly with our investment strategy in midcap infrastructure assets supporting solid industrial partners,” says Vincent Levita, founder and chief executive of OFI InfraVia. “We are delighted to provide InfraVia II investors with access to a unique electricity network as our first investment in Finland. We look forward to partnering with Outokumpu and to working with the management team and the employees of RIG to ensure
the continuing quality of service and success of the business.”
 
Roschier (legal) and PWC (financial, tax and accounting) advised OFI InfraVia on the transaction.


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