Vattenfall Said to Tap Danske for Sale of Swedish Heating Unit

Vattenfall AB is working with Danske Bank A/S on a potential sale of its district heating business in Sweden, which could be valued at about €1.5 billion ($1.7 billion), according to people familiar with the matter.

The state-owned Swedish utility could kick off the sale process as soon as later this year and infrastructure funds could be attracted to the asset, the people said, who asked not to be identified as the information is private.

The move is part of a broader review of Vattenfall’s district heating portfolio in the UK, Sweden and the Netherlands. The company said in March ...