Highlight 22 December 2014

Krogerus advises Neste Oil on the sale of its Kilpilahti electricity distribution network

Krogerus advised Neste Oil Corporation on its sale of all the shares of Kilpilahden Sähkönsiirto Oy to InfraVia European Fund II, an infrastructure fund managed by France-based InfraVia. The sale will produce a capital gain of approximately EUR 80 million for Neste Oil.

Kilpilahden Sähkönsiirto owns the regulated closed electricity distribution network and is responsible for high- and medium-voltage electricity distribution in the Kilpilahti industrial area. It distributes some 2,000 GWh of energy annually.

Krogerus also advised Neste Oil on the formation of Kilpilahden Sähkönsiirto and related regulatory and contractual issues, including the transfer of electricity distribution operations into Kilpilahden Sähkönsiirto in June 2014.

Neste Oil is a refining and marketing company whose shares trade on Nasdaq Helsinki. In 2013, the company’s sales were EUR 17.5 billion, and it employed roughly 5,000 persons.

The Krogerus team was led by partner Ville Hailikari and included counsel Marjukka Sippola. They were primarily assisted by counsel Kai Erlund and associates Pessi Honkasalo and Jarno Käkelä.

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