Cirio advises Statkraft when divesting its district heating business

Cirio has acted as local counsel for Statkraft AS in connection with the sale of its district heating business, Statkraft Varme, to Patrizia SE and Nordic Infrastructure AG. Statkraft Varme currently has 13 locations in Norway and Sweden and supplies around 1.2 terawatt-hours of energy annually to more than 40,000 customers.

The transaction is valued at up to EUR 312 million, including a contingent earn-out linked to the future performance of the district heating business. The sale is subject to approval from the relevant competition authorities.

Cirio’s team consisted of Jörgen Möller, Fredrik Morfeldt, Elisabet Heimer, Ina Laurell, Zacharias Thyrén, Fredrik Billing and Emelie Bergman.