Changes in Fingrid’s ownership: Finnish State increases its shareholding in Fingrid

The ownership structure of the transmission system operator Fingrid Oyj will partly change. Ilmarinen Mutual Pension Insurance Company is selling its holding of approximately 20 per cent of the shares of Fingrid to the Finnish State and OP Pohjola Kantaverkko Holding Ky.

The State is purchasing all of Ilmarinen’s series A shares (311 shares) and OP Pohjola Kantaverkko Holding Ky* is purchasing series B shares (350 shares).

Following the purchase of Ilmarinen’s shares, 50 series A shares will be converted to series B shares, which will be sold to OP Pohjola Kantaverkko Holding Ky, with the State retaining one B share.

The State’s ownership share in Fingrid will increase to 59.5 per cent, and OP Pohjola Kantaverkko Holding Ky’s ownership share will be 14.2 per cent. The remainder of the shares are held by Finnish insurance companies and pension insurance companies.

Fingrid Oyj owns Finland’s main electricity transmission grid and all significant cross-border transmission connections. The main grid is the backbone transmission network to which major power plants, industrial plants and regional electricity distribution networks are connected.

Further information:

Eeva-Liisa Virkkunen, Chair of the Board of Directors, Fingrid Oyj, tel. +358 40 505 2522
Asta Sihvonen-Punkka, President & CEO, Fingrid Oyj, tel. +358 50 573 9053

*OP Pohjola Kantaverkko Holding Ky is a holding company established for the acquisition and ownership of Fingrid shares by OP Suomi Infra, OP Henkivakuutus Oy and Pohjola Vakuutus Oy.