Fortum concludes the sale of its district heating business in Järvenpää, Finland

FORTUM CORPORATION INVESTOR NEWS 19 AUGUST 2020 AT 17:00 EEST
 

Fortum has today concluded the sale of its district heating business in the Järvenpää-Tuusula area in Finland to a consortium consisting of Vantaa Energy Ltd, Infranode, and Keva, as announced on 3 July 2020.

The total consideration of the sale on a debt- and cash-free basis is approximately EUR 375 million. Fortum will record a tax exempt capital gain of approximately EUR 290 million in the City Solutions segment’s third-quarter 2020 results.

Fortum Corporation

Ingela Ulfves, VP, IR and Financial Communications

Further information:

Media:

Timo Piispa, Head of Heating & Cooling Finland, tel. +358 50 453 2758

Investors & analysts:

Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531
Måns Holmberg, Manager, IR and Financial Communications, tel. +358 44 518 1518
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150

Fortum

Fortum is a European energy company with activities in more than 40 countries. We provide our customers with electricity, gas, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. Together with our subsidiary Uniper, we are the third largest producer of CO2-free electricity in Europe. With approximately 19,000 professionals and a combined balance sheet of approximately EUR 69 billion, we have the scale, competence and resources to grow and to drive the energy transition forward. Fortum's share is listed on Nasdaq Helsinki and Uniper's share on the Frankfurt Stock Exchange. www.fortum.com