Fortum to sell its district heating business in Järvenpää, Finland for approximately EUR 375 million

FORTUM CORPORATION INVESTOR NEWS 3 JULY 2020 AT 9:00 EEST Release category: Investor news Fortum has signed an agreement to sell its district heating business in the Järvenpää-Tuusula area in Finland to a consortium consisting of Vantaa Energy Ltd, Infranode, and Keva. The total consideration on a debt- and cash-free basis is approximately EUR 375 million. Fortum expects to record a tax exempt capital gain of approximately EUR 290 million in the City Solutions segment’s third-quarter 2020 results. The transaction is subject to customary closing conditions and is expected to be