Fortum divests its district heating business in Joensuu
Date
December 31, 2019
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
Finland
Subsectors
Biomass
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Fortum has signed an agreement to sell its district heating business in Joensuu, Finland to Savon Voima Oyj. The total consideration on a debt- and cash-free basis is approximately EUR530 (US$587) million.
The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2020.
