State to sell Fingrid Class B shares to OP Pohjola

The State is selling Class B shares in Fingrid to OP Pohjola. Earlier this year, the State acquired the Class A shares in Fingrid owned by Ilmarinen. Fifty of these shares will now be converted into Class B shares. Following the arrangement, the State’s holdings in Fingrid will 59.5 per cent.

The government plenary session held today on 7 May approved a deal in which the State will sell 136 Class B shares in Fingrid Oyj to OP Pohjola Kantaverkko Holding Ky (OP Pohjola). The share purchase price is EUR 62.4 million. The completion of the transaction will require a unanimous decision of the shareholders. 

This transaction is a continuation of an overall arrangement that began in February 2026. In the first part of the arrangement, the State purchased the Class A shares in Fingrid owned by Ilmarinen Mutual Pension Insurance Company (311 shares). As part  the overall arrangement, 50 Class A shares will now be converted into Class B shares to be purchased by OP Pohjola Kantaverkko Holding Ky. The State will retain one Class B share.

“This deal will bring the State income without weakening its control or position as an owner of Fingrid,” said Minister of Finance Riikka Purra.

By retaining one Class B share, the State will also have the rights pertaining to Class B shares. 

Fingrid is Finland’s transmission system operator. It is responsible for the transmission of electricity through the national power grid and for the reliability of the electricity system. The State is the only holder of Class A shares in Fingrid. Once the overall arrangement is completed, the State will hold 59.5 per cent of the shares and 81.5 per cent of the votes in Fingrid.

Inquiries: 
Anu Nousiainen, Director of Administrative Governance and Development, tel. +358 295 530 326, anu.nousiainen(at)gov.fi
Salla Kalsi, Senior Ministerial Adviser, tel. +358 295 530 430, salla.kalsi(at)gov.fi