Regulatory decisions in Russia on Fortum’s Uniper investment possibly delayed
FORTUM CORPORATION STOCK EXCHANGE RELEASE 24 MAY 2018 AT 17.30 EEST
It has come to Fortum’s attention that the Russian laws concerning offshore and foreign state ownership in Russian companies will be amended. The amendments are already in process. In Fortum’s assessment, this may have an impact on the timing when Fortum receives the formal regulatory decisions for its investment in Uniper in Russia. After the Government Commission’s decision on 28 April 2018, Fortum announced that it expects the formal decision within 30 days and now the company assumes that this may take some additional weeks. According to the Federal Antimonopoly Service’s announcement on 24 May 2018, Fortum’s investment can be approved once the amendment of the law is in force.
On 7 May 2018 Fortum formally notified the European Commission of its intention to become a major shareholder in Uniper. Fortum expects to have received all the regulatory clearances in mid-2018 and to close the Public Takeover Offer shortly thereafter. Clearances in the United States and South Africa have already been granted.
Vice President, Investor Relations and Financial Communications
Investors and analysts:
Rauno Tiihonen, Manager, Investor Relations, tel. +358 10 453 6150
Pauliina Vuosio, VP, Communications, Project Office tel. +358 50 453 2383
Fortum is a leading clean-energy company that provides its customers with electricity, 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. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2017, our sales were EUR 4.5 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com