Fortum : Sale of Stockholm Exergi at a far higher price than expected
>Divestment at € 2.9bn - Fortum has announced the signature of an agreement with a consortium of investors led by APG with a view to the sale of its 50% stake in the Swedish urban heating and cooling company, Stockholm Exergi Holding, for around SEK 29.5bn (around € 2.9bn), based on an enterprise value of SEK 71.9bn (around € 7.1bn). The transaction is subject to the usual regulatory approval and is expected to be finalised before the end of 2021. From this transactio...Fortum is an energy company. Co.'s operations are organised in five divisions: Hydro Power and Technology and Nuclear and Thermal Power, which are engaged in its hydro, nuclear and thermal power generation, services, portfolio management and trading as well as technology and research and development functions; Heat, Electricity Sales and Solutions, which consists of Co.'s combined heat and power production, district heating and business-to-business heating solutions, solar business, electricity sales and related customer offering; Russia, which consists of power and heat generation as well as heat distribution in Russia; and Distribution, which focuses on distribution activities in Sweden.
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