Fortum has made an indicative, non-binding offer to acquire Ekokem
FORTUM CORPORATION STOCK EXCHANGE RELEASE 13 May 2016 at 9:15 EEST
Fortum has made an indicative, non-binding offer to the four biggest shareholders in Ekokem to acquire their shareholding in the company. The biggest shareholders are Finnish State (Government ownership steering department), Association of Finnish Local and Regional Authorities, Ilmarinen Mutual Pension Insurance Company and Helsinki Region Environmental Services Authority HSY, representing more than 80% of the shares.
Fortum does not estimate the timetable or the outcome.
Ekokem is a Nordic circular economy company that would fit well with Fortum's clean energy strategy, which is focusing on providing sustainable solutions to, for example, energy and waste issues of cities and urban areas.
Vice President, Investor Relations and Financial Communications
Sophie Jolly, Vice President, Investor Relations and Financial Communications tel. +358 10 45 32552
Fortum's vision is to be the forerunner in clean energy. We provide our customers with electricity, heat and cooling as well as other energy solutions that improve present and future life. Already 64% of our electricity generation is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, we employed some 8,000 energy sector professionals, and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com