Business Services Industry
Fortum completes EUR545m sale of German operations to E.ON Energie AG
Nordic Business Report, June 10, 2002
NORDIC BUSINESS REPORT-10 June 2002-Fortum completes EUR545m sale of German operations to E.ON Energie AG (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com
The Finnish energy group Fortum Corporation announced today (10 June) that it had completed the sale of its German business Fortum Energie GmbH to E.ON Energie AG.
The total consideration of EUR545m resulted in a capital gain of approximately EUR140m, Fortum said.
The deal included Fortum Energie's electricity sale and supply activities and the operations of the regional electricity distributor Elektrizitatswerk Wesertal GmbH. According to Fortum the divested businesses have more than 600 employees and net sales of approximately EUR270m.
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