DIF Infrastructure V (“DIF”), SL Capital Infrastructure II (“ASI”) and Local Pensions Partnership Investments (“LPPI”) are pleased to announce the signing of an agreement to acquire 100% of Elenia Lampö Oy (“Elenia Heat”) from Elenia Oy.

Elenia Heat is the 9th largest district heating company in Finland. The company owns and operates 16 district heating networks across Finland with a total network length of 499km, via which it operates in 10 municipalities and serves approximately 85,000 end-customers. Elenia Heat also owns a gas distribution business, selling gas via 6 distribution networks. The company also holds a 50% stake in Oriveden Aluelämpö Oy, a small district heating network in Central Finland in the city of Orivesi.

The consortium was advised by Jefferies as sole financial adviser.

Disclaimer:

This press release has been prepared to inform the external media of certain information regarding Local Pensions Partnership Ltd (LPP) and its subsidiary, Local Pensions Partnership Investments Ltd (LPPI) only (together the “LPP Group”), subject to the following disclaimer. LPPI is authorised and regulated by the Financial Conduct Authority. It does not provide advice on legal, taxation or investment matters and no statements information or data published by or otherwise made available to the public by the LPP Group whether directly or indirectly and in any form (including written, oral or electronic/digital) should be relied upon for any purpose including (but not limited to) investment decisions. No other person or entity may rely or make decisions based on the content of this press release, whether they receive it with or without LPP Group’s consent, and this disclaimer is repeated fully in respect of any such third party.

This press release may contain ‘forward-looking statements’ with respect to certain plans and current goals and expectations relating to LPP Group’s future financial condition, performance results, strategic initiatives and objectives. By their nature, all forward-looking statements are inherently predictive and speculative and involve known and unknown risk and uncertainty because they relate to future events and circumstances which are beyond LPP Group’s control. Any projections or opinions expressed are current as of the date hereof only and subject to this disclaimer.

Without limitation to the aforesaid, this press release and its contents is provided ‘as is’ without any representation or warranty (express or implied), and no member of the LPP Group nor any of their respective directors, officers and employees shall be held liable howsoever to any person or entity, as to the appropriateness, accuracy or completeness of the information provided herein.