Fortum Oyj ADR
 (FOJCY)

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  • Dec. 12, 2013, 11:58 AM
    • Finnish utility Fortum (FOJCY, FOJCF]]) agrees to sell its local power distribution grid to a group of institutional investors led by First State Investments and Borealis Infrastructure for €2.55B ($3.5B).
    • The deal is the latest in a series of regulated grid sales made by large energy firms wanting to cut debt and focus on their power generation businesses instead, while highlighting the rising popularity of established infrastructure assets for pension funds and other institutional investors seeking safe returns in a low interest rate world.
    | Dec. 12, 2013, 11:58 AM | 1 Comment
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