Fortum to divest its shares in Swedegas to EQT Infrastructure
Fortum Corporation Press release 17 December 2009
Fortum to divest its shares in Swedegas to EQT Infrastructure Fortum, together with the other shareholders of the Swedish company Swedegas AB, has reached an agreement to sell its shares in Swedegas to EQT Infrastructure Ltd. Fortum owns 20.4% of the shares in Swedegas. The other owners are the German E.ON Ruhrgas International AG, the Norwegian Statoil ASA and the Danish Dong Energy A/S. The completion of the transaction is subject to the approval of the Swedish competition authority, which is expected during the first quarter of 2010. The transaction will be booked in Fortum's first quarter 2010 financial result. In agreement with the other parties, no further financial details will be disclosed at this stage. Swedegas is an energy gas transmission company in Sweden. The company's transmission network is located on the west coast of Sweden, covering 390 km from Dragor in Denmark to Stenungsund in Sweden. In 2008, the company's revenues were SEK 218 million (appr. euro 21 million). The company has 24 employees. Swedegas headquarters are located in Gothenburg. The divestment is in accordance with Fortum's strategy to concentrate on core-business. Fortum Corporation Corporate Communications Further information: Mr. Seppo Aho, Fortum, Heat Division, gsm +358 50 452 9244