Fortum closes acquisition of majority stake in Uniper

Fortum Corporation has closed the first tranche of the agreement to purchase the Uniper SE shares held by Elliott Management Corporation and its affiliates and Knight Vinke Energy Advisors Limited and its affiliates.

Fortum now holds 69.6% of the shares and voting rights in Uniper. The second tranche, a minimum of 1.0% and a maximum of 3.8% of the shares, will be closed within two months of today. Fortum is paying up to EUR2.6 billion (US$2.87 billion) for the combined shareholding, increasing Fortum’s total investment in Uniper to a maximum of EUR 6.5 billion.

Uniper owns and manages a portfolio of power plants located across Europe and Russia, as well as focuses on commodity trading business, such as power, emission certificates, natural gas, liquefied natural gas, coal, and freight. Uniper also operates power and gas storage facilities.