Fortum Corporation STOCK EXCHANGE RELEASE 26 June 2006
Announcement regarding emerging of consolidation relationship,
redemption obligation under the securities markets act and right of redemption under
the companies act
Fortum has today effected trades in shares of E.ON Finland Oyj with E.ON
Nordic AB and the City of Espoo and now holds a total of 15,598,424 shares in
E.ON Finland. By the acquisition of these shares Fortum receives a total of 99.8 %
of E.ON Finland's shares at a total purchase price of approximately EUR 750
In connection with the transaction, Fortum and E.ON Nordic have settled
all related outstanding open issues between E.ON and Fortum. As a consequence,
Fortum has paid E.ON a total compensation of EUR 16 million. In connection with
the transaction between the City of Espoo and Fortum, Fortum has, again, paid
EUR 1,914,576 as an interest for the purchase price.
The trades effectuated today mean that Fortum has become the parent company
of E.ON Finland.
Fortum has become liable to make a mandatory redemption offer under the
Chapter 6, Section 6 of the Securities Markets Act to other shareholders in E.ON
Finland. Fortum will publish the mandatory redemption offer on or about 30 June 2006.
Further, Fortum is entitled to redeem the remaining shares of E.ON Finland
in accordance with the Chapter 14, Section 19 of the Companies Act. Fortum will
use the aforementioned redemption right and present a redemption claim to the
Board of Directors of E.ON Finland on or about 28 June 2006.
Fortum will apply for the delisting of the shares in E.ON Finland when
the ownership of all shares in the company has been transferred to Fortum. This
is estimated to take place during autumn 2006.
SVP, Corporate Communications
For more information:
SVP, Corporate Communications Carola Teir-Lehtinen, tel. +358 50 542 4118
CFO Juha Laaksonen, tel. +358 50 452 4519
E.ON Finland Oyj
Helsinki Stock Exchange