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Fortum Says Russian Government Commission Approves Co's Majority Ownership In Uniper Subject To Certain Conditions
Russia's Unipro Does Not Plan To Declare Other Assets In Russia As Strategic - Ifx
Fortum Q3 Comparable EBITDA At EUR 295 Million
Fortum Oyj is a Finland-based company engaged in the generation and sale of electricity and heat, and operation and maintenance of power plants, as well as energy-related services. The Company operates, along with its subsidiaries, in four business segments: Power, comprising the Company’s power generation, physical operation and trading, as well as expert services for power producers; Heat, consisting of combined heat and power generation (CHP), district heating and cooling activities and business-to-business heating solutions; Russia, including power and heat generation and sales in Russia, and Electricity Solutions, responsible for Fortum’s electricity sales. The Company operates in Finland, Sweden, Norway, the Russian Federation, Poland, Lithuania, Latvia, Estonia, India and the United Kingdom, among others.
Keilaniementie 2-4, CD building
Independent Chairman of the Board
Pekka Ilmari Lundmark
President, Chief Executive Officer, Member of the Executive Management
Independent Deputy Chairman of the Board
Markus Heikki Erdem Rauramo
Chief Financial Officer, Member of the Executive Management
Executive Vice President, Russia Division; General Director of PAO Fortum; Member of the Executive Management
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Russia approved Finnish utility Fortum's <FORTUM.HE> plan to increase its stake in Germany's Uniper <UN01.DE>, the head of Russia's anti-monopoly service (FAS) and the company both said on Thursday.
German energy firm Uniper , whose top shareholder Fortum is working on a plan to get a majority, will continue to drive its strategy as an independent company, its Chief Financial Officer Sascha Bibert told analysts on Tuesday.
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
Uniper <UN01.DE> deliberately obstructed Fortum's proposed purchase of a stake in the German utility by registering assets in Russia as strategic, Kommersant daily quoted Fortum <FORTUM.HE> CEO Pekka Lundmark as saying on Thursday.
Alexander Chuvayev, head of Fortum's Russian business, said on Thursday the company hoped the Russian state would find a solution to the acquisition of Uniper and the deal would go ahead.
* Fortum wants to chair Uniper's supervisory board (Adds CEO's comments on Uniper deal)
Russia's RDIF sovereign wealth fund plans to invest hundreds of millions of U.S. dollars in joint renewable energy projects with Finish utility Fortum <FORTUM.HE> in Russia, RDIF said on Monday.
Russia may approve a deal allowing Finnish utility company Fortum <FORTUM.HE> to increase its stake in Germany's Uniper <UN01.DE> within half a year, Russian Economy Minister Maxim Oreshkin said on Monday.
The Russian government commission that reviews deals involving foreign investors could consider before the end of the year Finnish utility Fortum's <FORTUM.HE> to raise its stake in Germany's Uniper <UN01.DE>, Interfax reported.
Russia's anti-monopoly service is considering changing regulations to allow Finnish utility Fortum <FORTUM.HE> to raise its stake in Germany's Uniper <UN01.DE>, Interfax news agency reported on Tuesday, citing the service.
Russia's anti-monopoly service is considering changing regulations which would allow it to approve Finnish utility Fortum raising its stake in Germany's Uniper, Interfax news agency reported on Tuesday, citing the service.
Uniper's <UN01.DE> CEO will fight to get clarity from top shareholder Fortum <FORTUM.HE> on a range of issues ahead of a planned stake hike, he said in an internal memo, underlining that the German utility will remain independent for now.
Uniper <UN01.DE> said on Thursday its suitor, Finnish utility Fortum <FORTUM.HE>, had yet to address a range of questions from the German energy firm's management to convince it to support a takeover deal.
Germany's Uniper on Thursday said its suitor, Finnish utility Fortum, has yet to address a range of questions about its intentions in ongoing takeover talks to get management support for any deal.
An employee representative of utility Uniper <UN01.DE> on Wednesday criticized Fortum's <FORTUM.HE> effort to gain control of the German company.
Finnish utility Fortum is set to gain control of Germany's Uniper by acquiring the stakes of activist funds Elliott [ECAL.UL] and Knight Vinke, potentially ending a long-running deadlock over ownership of the group.
Finland's Fortum has claimed the supervisory board chair at Uniper should a deal to buy stakes from two activist funds be approved by regulators, its chief executive said.
Labor representatives at Uniper <UN01.DE>, fearing a ratings downgrade in the event of a full takeover of the German energy group, have called on major shareholder Fortum <FORTUM.HE> to lay out plans for future cooperation between the two companies.
* Knight Vinke has threatened to call EGM next month (Recasts on Fortum relationship, adds context)
Finnish utility Fortum beat second-quarter profit expectations on Friday, boosted by higher power prices and a rise in electricity generation volumes, and said it was continuing talks with bid target Uniper's management.
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