Powerful combination

Powerful combination - Fortum intends to become a major shareholder in Uniper

  • Fortum has published offer document for the voluntary public takeover offer (Offer) for the outstanding shares of Uniper following approval of the offer focument by the German Supervisory Auhtority (BaFin)
  • The acceptance period has commenced on 7 November 2017 and ends on 16 January 2018
  • Pursuant to the Offer, Uniper shareholders who tender their shares will receive  the previously announced total value of EUR 22.00 per share in cash, which  includes the value of an expected dividend from Uniper of EUR 0.69 per share  for the fiscal year 2017.
  • The total value represents a premium of 36% over the share price prior to intense market speculation regarding a potential  transaction at the end of May 2017 and a premium of 120% over the initial  trading price post spin-off of EUR 10.
  • The Offer will be subject to competition and regulatory approvals, but has no minimum acceptance condition. Fortum expects to finalise the transaction in  mid-2018.

The offer document and a non-binding English translation along with instructions on how to obtain a printed copy are available at  www.powerful-combination.com.


Strategic rationale


The investment in Uniper delivers on Fortum's previously announced capital redeployment strategy and investment criteria. Uniper's businesses are well aligned with Fortum's core competencies, are close to Fortum's home markets and are highly cash generative. We expect the investment to deliver an attractive return that will support the company in accelerating the development and implementation of sustainable energy technologies, without sacrificing a competitive dividend.

We are investing in a strong, successful company with a diversified portfolio. Fortum is absolutely committed to work for a cleaner Europe. To make this vision a reality we must also provide customers with a secure energy supply at a competitive price during the transition towards lower emissions. Conventional energy, especially gas, can respond to the increasing intermittent renewable production, providing the flexibility needed to ensure supply in geographies where sufficient hydropower resources are not available.

Fortum CEO Pekka Lundmark explains launch of voluntary public offer for Uniper