PRESS RELEASE 18 JUNE 2013
Fortum has agreed to sell its 47.9% ownership of the Swedish energy company
Härjeåns Kraft to the Finnish energy company Oy Herrfors Ab, a subsidiary of
Katternö Group. The divestment is in line with Fortum's aim to strengthen its
strategic focus by divesting non-core assets, for example minority
shareholdings, and is part of the company's efficiency programme launched in
The sales price is SEK 445 million (approximately EUR 52 million) and the
transaction is estimated to be completed at the beginning of July. Fortum will
book a sales gain of approximately EUR 15 million to its Distribution business
area's third quarter 2013 financial result.
Fortum has been a minority shareholder in Härjeåns Kraft since the late 1990s.
Härjedalen municipality owns 36.6% of the company, and 15.5% of the shares are
owned by private shareholders.
Härjeåns Kraft distributes electricity to 26,700 customers in Central Sweden,
and generates power with its nine hydropower plants. The company is also an
electricity retailer. Härjeåns Kraft has 90 employees and its net sales in 2012
were SEK 597 million (approximately EUR 70 million).
Bengt Johansson, Head of Regulation and Legal, Distribution Sweden, Fortum
Corporation, tel. +46 706 541 197
Anna Lidberg, Head of Communications in Sweden, Electricity Solutions and
Distribution division, Fortum Corporation, tel. +46 702 159 626
Fortum's purpose is to create energy that improves life for present and future
generations. We provide sustainable solutions that fulfil the needs for low
emissions, resource efficiency and energy security, and deliver excellent value
to our shareholders. Our activities cover the generation, distribution and
sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the
Baltics. In the future, the integrating European and fast-growing Asian energy
markets provide additional growth opportunities. In 2012, Fortum’s sales
totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion.
We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX
Further information: www.fortum.com