Fortum Notes Russian Approval for Uniper Stake Buy

Date : 11/15/2019 @ 6:48AM
Source : Dow Jones News
Stock : Uniper SE (UN01)
Quote : 29.61  0.55 (1.89%) @ 4:29PM

Fortum Notes Russian Approval for Uniper Stake Buy

Uniper (XE:UN01)
Historical Stock Chart

1 Month : From Nov 2019 to Dec 2019

Click Here for more Uniper Charts.

By Dominic Chopping

 

Fortum Oyj (FORTUM.HE) said late Thursday that its acquisition of 20.5% of German energy supplier Uniper SE (UN01.XE) has been approved by the Russian Government Commission for Monitoring Foreign Investments.

Last month the Finnish state-controlled utility company announced plans to acquire all the Uniper shares held by Elliott Management Corp. and Knight Vinke Energy Advisors Ltd. for 2.3 billion euros ($2.5 billion), bringing its share in Uniper to over 70.5%.

The Government Commission's decision was announced earlier Thursday to Russian media by Igor Artemyev, the head of the Russian Federal Antimonopoly Service, but Fortum hasn't yet received an official decision from the FAS, it said.

"To Fortum's understanding the details of the decision and the relevant conditions will be clarified by the FAS within approximately 10 days, after which Fortum is in a position to give further details," it said.

The closing of the transactions is also subject to customary merger control clearances in Russia and the United States.

Fortum expects to be able to close the transactions by the end the first quarter of 2020.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

November 15, 2019 01:33 ET (06:33 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.