Ikaalinen approves €6.8m sale of its entire Leppäkoski stake to majority owner Alfors

Ikaalinen's city board approved the sale of the municipality's entire holding in energy group Leppäkoski to majority owner Alfors for just over €6.8 million this week, clearing the way for a direct transfer of the 9,060 shares — roughly a 10 percent stake, YLE reports.

The board first voted 5–3 against sending the matter back for further preparation. It then moved to a unanimous sale decision after city manager Eeva Viitanen recommended selling all shares to Alfors.

Small shareholders, led by Esa Talonen and five others, urged councillors to reconsider. They argued the shares are undervalued and pointed to last summer's Pori Energia deal, which used a higher multiple of operating profit.

Talonen warned the sale would increase Alfors's influence; it is already the largest owner. Small investors had hoped to block planned network disposals but were unable to sway councillors.

Leppäkoski Group serves about 30,000 electricity customers and nearly 1,500 district heating customers, and employs around 80 people.