The sales price is EUR 325 million. Consequently, Fortum expects to book a gain of roughly EUR 200 million in its second quarter 2011 financial results including Fortum's share of Fingrid's first quarter 2011 profit, corresponding to approximately EUR 0.22 per share. The proceeds will be used on general corporate purposes.
Fortum is selling its holding in the Finnish transmission system operator Fingrid as a result of the EU's third energy market package that calls for the separation of high voltage transmission and power generation. The package entered into force in September 2009 and, according to it, Fortum will have to divest its entire ownership in Fingrid by early 2012.
Further information on Fingrid is available at http://www.fingrid.fi/portal/in_english/
Executive Vice President, Corporate Relations and Sustainability
Timo Karttinen, Executive Vice President, Electricity Solutions and Distribution,
Tel. +358 10 453 6555
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