Fortum sells its share in a Latvian gas company

Fortum has sold its share of some 2% in the Latvian gas company, A/S Latvijas Gaze. Fortum aims to act as a noteworthy shareholder in gas companies around the Baltic Rim. However, reaching this target in Latvia does not seem probable at the moment.

                          

Fortum decided to divest in Latvia and focus on the development of other companies in the area. In June, Fortum increased its ownership in the Swedish Vattenfall Naturgas from 10% to 20.4%. In addition, Fortum owns 25% of Gasum Oy and 17.7% of the Estonian Eesti Gaas. The current transaction was implemented through the Riga Stock Exchange and its value is  EUR 16 million.

 

Fortum Corporation

 

Further information:

 

Mr. Mikko Tulenheimo, Fortum, Natural Gas, tel. +358 10 45 25755

Mr. Bo Lindfors, Fortum, Natural Gas, tel. +358 10 45 24535