A&O Shearman advises Iberdrola on €5bn acquisition of Finland’s Caruna
A&O Shearman has advised Iberdrola on the acquisition of Caruna, Finland’s largest electricity distribution company, in a transaction valuing the business 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 team
The transaction was led 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’s advisory team was led by M&A partner Fatima Shawaf and senior associate Laura Green.
The team also included partners Iñigo del Val and Antonio Martínez Sánchez, together with associates Ximena Miñan Vega, Enrique Ferrer Poggio, José Mollinedo and Sofia Cendoya Murillo.
