The acquisition of Enermet completed

The deal between Fortum Corporation and the Industri Kapital 1994 private equity fund agreed on 9 July 1999 concerning the sale of Enermet’s business has today been closed. The relevant competition authorities have approved this deal.

The sales price was 102 million Euros, bringing Fortum a gain on the sales of 69 million Euros, to be entered under the extraordinary items. Fortum acquired for 13 million Euros a 30% minority share in the newly formed Enermet Group Oy.