EnergyWatch

Swedish electricity distributor will buy utility for over EUR 64 million

The largest electricity company in Sweden will continue its growth trajectory with a bid on Stockholm's E.on-dominated electricity company.

Photo: Ellevio

One of Sweden's three major electricity distribution companies, Ellevio, will buy utility Elverket Vallentuna. The Ellevio group has offered a SEK 629 million (EUR 64.45 million) bid for 90 percent of Elverket's shares. The electricity company is recommending that its shareholders approve the bid, which has a premium of close to 28 percent relative to the current price.

This is according to a press release (Swedish) from the parties.

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