Fortum has signed a contract according to which the company will sell its 24.5%
ownership of the Northern Norwegian electricity supplier Ishavskraft AS to
other shareholders of the company: Alta Kraftlag SA, Ymber AS, Repvåg Kraftlag
SA and Luostejok Kraftlag SA. The fifth owner of the company is Troms Kraft.
The sales gain from the transaction will be booked in Fortum's 2011 fourth
quarter financial result. The divestment will not have a significant impact on
Fortum's financial result. The transaction will take effect on 28 October 2011.
Ishavskraft AS was established by five local energy companies in Finnmark and
Nord-Troms in June 1997. Fortum became Ishavskraft's shareholder in 2000 with
49% shareholding. Currently, Ishavskraft AS has approximately 90,000 customers,
a turnover in excess of 1.7 billion NOK and more than 20 employees in the
cities of Alta and Tromsø.
The divestment is in accordance with Fortum's ambition to focus on its own
For additional information, please contact:
Hans Kristian Rød, Fortum Holding, tel. +47 90118612,