References/6 Jul 2018

Borenius advised Elite Alfred Berg (EAB) on its acquisition of a solar portfolio in India from Fortum

We advised Elite Alfred Berg (EAB), listed on Nasdaq First North, on its acquisition of a 14% ownership interest in Fortum’s 185 MW portfolio of operational solar assets in India with an option to acquire a further 16% by the end of the year.  UK Climate Investments (UKCI) will acquire a 40% share in the portfolio.

Fortum is expected to receive approximately EUR 150 million as the total consideration for the divestment of the 54% stake on a debt and cash free basis, which includes the effect of deconsolidating Fortum’s minority share of the net debt.

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Additional information

Johan Roman

Partner

Helsinki

Team

Andreas Doepel

Counsel, General Counsel

Helsinki