March 13, 2020 / 2:23 PM / a month ago

Fortum gains control of Uniper after two-year struggle

Helsinki, March 13 (Reuters) - Energy company Fortum said on Friday it had met all regulatory conditions for a majority stake in German rival Uniper, after receiving a final approval from Russian authorities.

The decision means Fortum can obtain a 70.5% ownership in the German energy group and gain control of the company, ending a more than two-year takeover battle.

“The Russian Federal Antimonopoly Service has today informed Fortum that the company does not need a merger clearance decision for closing its majority transactions on Uniper SE shares,” Fortum said in a statement.

Reporting by Anne Kauranen. Editing by Jane Merriman

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