Borenius advised Väre on the transfer of retail electricity sales business from Kymenlaakson Sähkö

We advised Väre Oy on the transfer of Kymenlaakson Sähkö Oy’s retail electricity sales business to Väre.

As a result of the transaction, all of Kymenlaakson Sähkö’s approximately 80,000 consumer and small business customers will be transferred to Väre and Kymenlaakson Sähkö becomes a shareholder of Väre. The transaction will strengthen Väre’s position as a pioneering partner for comprehensive energy services and new energy solutions on the Finnish electricity retail market.

Väre is an independent joint venture established in 2018 and owned by Savon Voima Oyj, Kuopion Energia Oy, Alva-yhtiöt Oy, Lappeenrannan Energia Oy, and Kymenlaakson Sähkö Oy. Väre is a domestic, modern energy services company with a particular emphasis on sustainable development, and it is one of the largest electricity retailers in Finland. Kymenlaakson Sähkö is a local energy group owned by ten cities and municipalities.