Iberdrola to Buy 80% of Finnish Grid Operator Caruna for $2.3B
Iberdrola agreed to buy an 80% stake in Finland’s Caruna, valuing the equity and debt at roughly $5.7B. The deal calls for a $2.3B investment, with AMF Pension and Elo Mutual Pension Insurance retaining 12.5% and 7.5% minority stakes. Caruna operates about 89,000 km of distribution network, serving over 1.5 million people and supporting rising demand.