Fortum and Pohjolan Voima are selling their holdings in the Finnish transmission system operator Fingrid as a result of the EU’s third energy market package that calls for the separation of high voltage transmission and power generation. The package entered into force in September 2009.
Fortum, Pohjolan Voima Oy (PVO), the Finnish State and Ilmarinen Mutual Pension Insurance Company have signed a share purchase agreement according to which Fortum sells its 25%-shareholding and PVO sells its 25-% shareholding in the Finnish transmission system operator Fingrid Oyj. The shares sold are Fingrid’s series A shares. The State (with Ministry of Employment and the Economy and the National Emergency Supply Agency as the shareholders) will buy approximately 81% and Ilmarinen approximately 19% of Fortum’s and PVO’s Fingrid shares.Back to transactions