White & Case Advises Keva on Sale of Caruna Holding

Press Release
1 min read

Global law firm White & Case LLP has advised Keva on the sale of a 12.5 percent holding in Caruna to the Swedish pension company AMF Pension.

Keva is Finland's largest pension provider, administering the pensions of local government, State, Evangelical Lutheran Church, Kela and Bank of Finland employees. Keva serves a total of 1.2 million public sector employees and pensioners as well as some 2,000 employer customers.

Caruna distributes electricity and maintains, repairs and builds a weatherproof electricity network for its approximately 690,000 customers in Finland.

In addition to AMF Pension's acquisition, Ontario Teachers' Pension Plan Board and KKR have each simultaneously acquired a 20 percent holding in Caruna.

The White & Case team in Helsinki which advised on the transaction was led by partner Timo Airisto and included partner Tanja Törnkvist and associate Henna Viljakainen.

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