SALE OF ENERMET CLOSED

The deal between Fortum Corporation and the Industri Kapital 1994  private equity fund agreed on 9 July 1999 concerning the sale of Enermet’s business has today been closed. The relevant competition authorities have approved this deal.

 

The sales price was 102 million Euros, bringing Fortum a gain on the sales of 69 million Euros, to be entered under the extraordinary items.

 

Fortum acquired for 13 million Euros a 30% minority share in the newly formed Enermet Group Oy.

 

Fortum Corporation

Antti Ruuskanen

Corporate Executive Vice President, Communications

 

FURTHER INFORMTION:

Fortum’s stock exchange release of 9 July 1999 at 11.30 a.m., which can be found in the address www.fortum.com.

 

DISTRIBUTION:

Helsinki Exchanges

Key media