Fortum will sell its 25% stake in Finnish transmission system operator, Fingrid, The Wall Street Journal reports. The Finnish state and Ilmarinen Mutual Pension Insurance will acquire the utility for €325 million.
The state will get about 81% and Ilmarinen 19% of Fortum’s Fingrid shares. Fortum expects to book a gain of around €200 million from the deal, which is expected to be completed by the first half of 2011.
Click here for the story fromThe Wall Street Journal.
Click here for the additional coverage from Reuters.