Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

iCON Infrastructure Agrees to Acquire Fortum’s Norwegian Heating Business


Print article Print article
© Business Wire 2014
2014-04-09 12:05:02 -

iCON Infrastructure Partners II, L.P. (“iCON II”) has entered into an agreement to acquire 100% of Fortum fjernvarme AS and related holdings from Fortum Oyj (“Fortum”), the Finnish energy company. The transaction forms part of the wider sale announced today by Fortum of its Norwegian electricity distribution and heating businesses.

Fortum's heat production and district heat and cooling business is one of the largest in Norway and consists of the fully-owned subsidiaries Fortum fjernvarme AS and Fortum Leasing KS as well as the following holdings: Lier fjernvarme AS (50%), Lier fjernvarme KS (45%), Drammen fjernvarme AS (50%), Drammen fjernvarme KS (45%) and Fredrikstad fjernvarme AS (35%). Heat production capacity consists mainly of heat pumps and business-to-business heat plants with a combined

capacity of 210 megawatts. In 2013, Fortum’s Norwegian heat business delivered 215 gigawatt-hours (GWh) of district heat and 63 GWh of district cooling to its customers who are mainly in the greater Oslo and Akershus areas. The delivery of heat and cooling to customers will continue without disruption following the transaction and all 14 current employees will continue their work in the business.


Daniel Agostino, a Managing Partner of iCON Infrastructure LLP, said:

“iCON Infrastructure is delighted to welcome Fortum fjenvarme and the related companies to our strong portfolio of core infrastructure businesses and we look forward to working with Atle Nørstebø (CEO of Fortum fjernvarme), his team and their business partners to grow the company, consolidating on its leading position today and ensuring that customers continue to receive the same high quality service.


This investment further emphasises iCON Infrastructure’s status as a reliable and complementary infrastructure partner for industrial companies looking to grow their businesses, following on from our recent investments in Verbrugge International and firmus energy.”


-Ends-


Notes to Editors:



iCON Infrastructure LLP (“iCON Infrastructure”) is an independent investment firm focused on investments in core infrastructure across Europe and North America. Investments owned by iCON Infrastructure’s funds include interests in The Porterbrook Partnership, Mountaineer Gas Company, CLH, Beckton Energy and Verbrugge International. iCON Infrastructure Partners II, L.P. is iCON Infrastructure’s second fund and its investment partners include globally recognised pension funds, asset managers and insurance companies. iCON Infrastructure is regulated by the Financial Conduct Authority. Further information is available at: www.iconinfrastructure.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .
" title="http://cts.businesswire.com/ct/CT?id=bwnews&sty=20140409005573r1&sid=16929&distro=ftp\"/>" target="_blank" rel="nofollow">cts.businesswire.com/ct/CT?id=bwnews&sty=20140409005573r1&am ..

iCON InfrastructureDaniel AgostinoManaging Partnert:

+44 (0) 20 3178 7121e: daniel.agostino@iconinfrastructure.com : mailto:daniel.agostino@iconinfrastructure.com


Author:
Hossam Abdel-Kader
e-mail
Web: www.pr-inside.com/
Phone: +43 1 9582319

Disclaimer: (c) 2014 Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com