Fortum to sell its district heating business in the Baltics for EUR 800 million
FORTUM CORPORATION INVESTOR NEWS 12 MARCH 2021 AT 11:30 EET
Fortum has signed an agreement to sell its district heating business in the Baltics to Partners Group, a leading global private markets firm, acting on behalf of its clients. The total consideration on a debt- and cash-free basis is EUR 800 million. Fortum expects to record a tax exempt capital gain of approximately EUR 240 million in the City Solutions segment’s second-quarter 2021 results. The transaction is subject to customary closing conditions and is expected to be completed in the second quarter of 2021.
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