Pension company AMF acquires 12.5 percent of Ellevio’s shares
The energy company Ellevio gains a new shareholder as the Swedish occupational pension company AMF acquires 12.5 percent of its shares.
“We welcome AMF to Ellevio and look forward to working together in the future. AMF is an experienced owner, which is good considering the major changes the energy system is now undergoing to enable rapid societal development,” says Fredrik Persson, Chairman of the Board of Ellevio.
In addition to AMF, Ellevio is already owned by the pension funds OMERS Infrastructure (50 percent), AP3 Third Swedish National Pension Fund (20 percent) and Folksam (17.5 percent). They all make long-term capital available to the company, which is subsequently invested in future energy systems and customer solutions.
“We appreciate the opportunity to invest in Ellevio, a well-run socially important company with a strong sustainability profile. As an occupational pension administrator, with a long-term investment horizon and a stable financial position, we have particularly good opportunities to invest in assets such as energy and infrastructure. This is a strength for us, because it means that we can continue to build a good spread of risk and create the conditions for a stable long-term return for our savers”, says Katarina Romberg, Head of alternative investments AMF.
As one of Sweden’s largest electricity grid companies, Ellevio has a long-term responsibility for critical infrastructure and plays a central role in the transition to an electrified, fossil-free society. The electricity system must be developed and dimensioned to function for many decades to come, which places long-term demands – both on the company and its owners.
“We need to make extensive investments to realise the energy transition and achieve national climate goals. With the right conditions, all Ellevio’s owners want to enable the investments required for us to continue to develop the sustainable energy system of tomorrow. In return, we must offer reasonable, long-term and stable value growth in pension systems,” says Persson.
AMF acquired its ownership stake from AP1 First Swedish National Pension Fund.
For more information, please contact:
Sarah Östberg, Head of Financial and Sustainability Communication
Tel: +46 70 971 12 40
Jesper Liveröd, Press Manager
Tel: +46 70-929 96 23
With close to a million customers, Ellevio is one of Sweden’s largest electricity network companies. Together with our customers and partners, we take an active role in the journey towards an electrified, fossil-free society. Our electricity grids are the backbone that connects producers and consumers of electricity, which enables more renewable electricity production, the electrification of transport and industry, and which creates the conditions for new climate-smart services for our customers. We have approximately 650 employees and employ a total of 3,000 people. Read more at ellevio.se/en.
With SEK 700 billion in assets for approximately 4 million customers, AMF is one of Sweden’s leading occupational pension companies, and one of the largest investors on Nasdaq OMX Nordic Stockholm. AMF is owned equally by the Swedish Trade Union Confederation (LO) and the Confederation of Swedish Enterprise and operated on mutual principles, entailing that all profits are.