Fortum to sell its 50% ownership in Fortum Oslo Varme AS to a Norwegian investor consortium for approximately EUR 1 billion
FORTUM CORPORATION INSIDE INFORMATION 22 MARCH 2022 AT 9:00 EET Fortum has today signed an agreement to sell its 50% ownership in the district heating company Fortum Oslo Varme AS in Norway to an investor consortium comprising Hafslund Eco, Infranode and HitecVision. The total consideration for Fortum’s share is approximately NOK 10 billion on a cash and debt free basis (approximately EUR 1 billion based on current currency rate) and as part of the transaction, Fortum will deconsolidate a related NOK 2 billion loan from the City of Oslo. The consideration is based on a 100% enterprise