V&E Advises KKR in Connection with First Sentier Investors’ Sale of 40% Holding in Caruna Oy
Vinson & Elkins advised global investment firm KKR in connection with First Sentier Investors’ (FSI) sale of its 40% holding in Caruna Oy (Caruna), Finland’s largest electricity distribution company, to KKR and Ontario Teachers’ Pension Plan Board (OTPP), which now hold 20% each. Keva has sold its 12.5% holding to AMF. The transactions have received all necessary regulatory approvals.
Separately, Vinson & Elkins advised KKR in connection with OMERS’ sale of its 40% holding in Caruna to KKR and OTPP, which will increase their ownership to 40% each. This transaction is subject to customary regulatory approvals.
These two transactions taken together were the second deal undertaken under KKR’s core infrastructure strategy.
The V&E team was led by partners Federico Fruhbeck and Chris Strong, with assistance from counsel Alice Brogi, associates Miguel Colebrook, Dominic Kinsky, Steven Wilson and Ka-Mun Fu and trainee solicitors Afzaal Abidi and Adair Cook. Also advising were partner Jeff Eldredge and counsel Cason Moore, together with tax counsel Andrew Callaghan.
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