Fortum to sell the shares of Fortum Heat Naantali Oy to regional energy producer TSME in Turku, Finland
PRESS RELEASE 5 DECEMBER 2012Fortum has agreed to sell its shares in Fortum Heat Naantali Oy (owning Naantali power plant) to Turun Seudun Maakaasu ja Energiantuotanto Oy (TSME), a regional energy producer in Turku. A letter of intent on restructuring the Naantali power plant's ownership was signed in December 2010. The transaction will take effect on 31 December 2012. A sales gain of approximately EUR 19 million from the transaction will be booked in Fortum Heat Division's 2012 fourth quarter operating profit. The cash flow impact is approximately EUR 50 million. Divestment of the