FORTUM CORPORATION INVESTOR NEWS 26 MAY 2017 at 9.00 EEST
Fortum has agreed to sell 100% of its shares in Polish gas infrastructure company DUON Dystrybucja S.A. to Infracapital, the infrastructure investment arm of M&G Investments. Fortum continuously optimises its asset portfolio and has chosen to divest the gas infrastructure assets as they are non-core for Fortum's strategy.
DUON Dystrybucja S.A. is transporting grid gas and LNG in Poland. The company was acquired as part of the acquisition of the electricity and gas sales company Grupa DUON S.A. (currently Fortum Markets Polska S.A.) in 2016 (announced on 8 January 2016).
The transaction is subject to regulatory approvals and customary closing conditions. Fortum expects to finalise the transaction during the third quarter 2017. The parties have agreed not to disclose the sales price. The sale is expected to have a minor positive impact on Fortum's results.
Fortum Corporation
Sophie Jolly, Vice President, Investor Relations and Financial Communications
Further information:
Investor Relations & Financial Communications, Sophie Jolly, tel. +358 10 453 2552, Rauno Tiihonen, tel. +358 10 453 6150, Måns Holmberg, tel. +358 44 518 1518, Pirjo Lifländer +358 40 643 3317, and investors@fortum.com
Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com