A&O Shearman advises Iberdrola on €5 billion acquisition of Finland’s Caruna

"A&O Shearman advised Iberdrola on the acquisition of Caruna, Finland’s largest electricity distribution company, in a transaction valuing the business at approximately €5 billion. The deal expands Iberdrola’s Nordic presence and is expected to close in Q1 2027, subject to regulatory approvals."

A&O Shearman advised Iberdrola on the acquisition of Caruna, Finland’s largest electricity distribution company. The transaction values Caruna at approximately €5 billion. Caruna is Finland’s leading electricity distribution operator, serving approximately 1.5 million people—more than 20% of the country’s population. Through the acquisition, Iberdrola expands its presence in the Nordic market and adds a key regulated asset to its international portfolio. The deal was led on the client side by David Mesonero, Iberdrola’s deputy chief financial officer and chief development officer. Closing is expected during the first quarter of 2027, subject to customary regulatory approvals and other closing conditions. A&O Shearman represented Iberdrola with a team composed by: M&A partner Fatima Shawaf; senior associate Laura Green; partners Iñigo del Val and Antonio Martínez Sánchez; and associates Ximena Miñan Vega, Enrique Ferrer Poggio, José Mollinedo and Sofia Cendoya Murillo. Iberdrola led the transaction with a team composed by: David Mesonero, deputy chief financial officer and chief development officer.

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A&O Shearman advises Iberdrola on €5 billion acquisition of Finland’s Caruna

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A&O Shearman advises Iberdrola on €5 billion acquisition of Finland’s Caruna

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