FORTUM CORPORATION INVESTOR NEWS 8 APRIL 2016 at 14.45 EEST
On 8 April 2016, Fortum has obtained 100% of shares in Grupa DUON S.A., an
electricity and gas sales company listed on the Warsaw Stock Exchange.
Fortum announced a tender offer for Grupa DUON S.A. on 8 January 2016. During
the subscription period that ended on 26 February 2016 Fortum received
subscriptions from shareholders representing altogether 93.35% shares in the
company at the offered price PLN 3.85 per share. The remaining shares were
purchased from shareholders under the mandatory squeeze-out procedure at the
same price per share.
The acquisition is in line with Fortum's strategy to offer and grow in
sustainable city solutions.
Vice President, Investor Relations and Financial Communications
Investors, analysts and financial media:
Sophie Jolly, Vice President, Investor Relations and Financial Communications,
tel. +358 10 45 32552
Izabela Van den Bossche, Vice President, Communications, tel. +48 692 209 428
Duon sells electricity and natural gas. The company was founded in 2000, and it
is currently one of the leading independent providers of electricity and
natural gas in Poland. It is also a leading distributor and transporter of LNG.
In 2015, its revenues were PLN 861 million (EUR 206 million) and EBITDA PLN 42
million (EUR 10 million). Currently it employs approximately 500 people. The
company has been listed on the Warsaw Stock Exchange since 2007 (DUO: WSE).
Fortum in Poland
Fortum has been operating in Poland since 2003. It currently has three combined
heat and power (CHP) plants and over 800 km of district heating networks, which
serve around 360,000 households in the cities of Płock, Wrocław, Częstochowa,
Zabrze and Bytom. The overall power generation capacity is over 200 MW and heat
generation capacity over 1,100 MW. Fortum is currently building a new
multi-fuel CHP plant in Zabrze with the investment value of approximately EUR
200 million. The company has about 600 employees in Poland.
Fortum's vision is to be the forerunner in clean energy. We provide our
customers with electricity, heat and cooling as well as other energy solutions
that improve present and future life. Already 64% of our electricity generation
is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,
Poland and India. In 2015, we employed some 8,000 energy sector professionals,
and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq