The LNI Acquisition Oy consortium includes 3i Infrastructure, 3i Group, GS Infrastructure Partners and Ilmarinen Mutual Pension Insurance Company.

As part of the transaction, the sale includes Finnish assets, Vattenfall Verkko Oy, the second largest electricity distribution network and Vattenfall Lämpö Oy, a district heating supplier.

The transaction is expected to be completed within the first quarter 2012.

Vattenfall’s Finnish electricity sales organization as well as its hydro power operations will remain under the ownership of Vattenfall.

Vattenfall CEO Oystein Loseth, said the networks and heat operations as part of our organization in the Nordic region, have developed into successful and strong businesses over the past ten years in Finland.

"Whilst the divestment is a significant step in delivering our new strategic direction, focusing on our core business and markets in Sweden, Germany and the Netherlands, we will remain present in the Finnish market through our electricity sales and hydro power generation operations" added Loseth.