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Iberdrola Agrees to Buy Finland’s Caruna for About €5 Billion

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Iberdrola agreed to acquire Caruna, Finland’s leading electricity distribution operator, valuing it at about €5 billion including debt. It will pay €2 billion for 80% of the equity, with AMF and Elo keeping 20%. Caruna serves 1.5 million people and operates an 89,000 km grid. Completion is expected in Q1 2027 after regulatory approvals, boosting network investment and earnings potential.

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