Adven Falls into the Lap of JPMorgan from AMP Capital and Infracapital
Posted on 09/19/2020
Adven Group Oy is a provider of clean energy solutions across the Nordics and Baltics (Finland, Sweden, and Estonia). Infracapital and AMP Capital have agreed to sell their combined ownership interest in Adven to institutional investors advised by J.P. Morgan Asset Management. AMP Capital and Infracapital each own a 50% stake in Adven.
Infracapital and AMP Capital acquired Adven in January 2016 from EQT Infrastructure. During the ownership period, Adven acquired E.ON’s district heating business in Sweden, becoming a major provider of clean energy in the region. Adven entered the Latvian and Norwegian energy infrastructure markets and has reduced its carbon footprint per sold megawatt hour by 20% since 2016.
Infracapital is the infrastructure equity investment arm of M&G Plc.
Keywords: AMP Ltd.
