Fortum has today completed the divestment of its 33% holding in Infratek ASA to a fund managed by Triton, following the approval of the Swedish and Norwegian competition authorities.
The sales price is approximately EUR 37 million. Fortum will book a sales gain of approximately EUR 10 million in the Power Division's third-quarter 2013 results.
The divestment is in line with Fortum's aim to strengthen its strategic focus by divesting non-core assets, such as minority holdings, and is part of the company's efficiency programme launched in October 2012.
Timo Karttinen, Executive Vice President, Electricity Solutions and Distribution Division,
Fortum, tel. +358 50 453 6555
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
Further information: www.fortum.com