Fortum Notes Russian Approval for Uniper Stake Buy
15 Novembre 2019 - 7:48AM
Dow Jones News
By Dominic Chopping
Fortum Oyj (FORTUM.HE) said late Thursday that its acquisition
of 20.5% of German energy supplier Uniper SE (UN01.XE) has been
approved by the Russian Government Commission for Monitoring
Foreign Investments.
Last month the Finnish state-controlled utility company
announced plans to acquire all the Uniper shares held by Elliott
Management Corp. and Knight Vinke Energy Advisors Ltd. for 2.3
billion euros ($2.5 billion), bringing its share in Uniper to over
70.5%.
The Government Commission's decision was announced earlier
Thursday to Russian media by Igor Artemyev, the head of the Russian
Federal Antimonopoly Service, but Fortum hasn't yet received an
official decision from the FAS, it said.
"To Fortum's understanding the details of the decision and the
relevant conditions will be clarified by the FAS within
approximately 10 days, after which Fortum is in a position to give
further details," it said.
The closing of the transactions is also subject to customary
merger control clearances in Russia and the United States.
Fortum expects to be able to close the transactions by the end
the first quarter of 2020.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 15, 2019 01:33 ET (06:33 GMT)
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