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Fortum sells 100% of shares in Polish gas infrastructure company

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LNG Industry,

Fortum has announced that it has agreed to sell 100% of its shares in DUON Dystrybucja S.A. – a Polish gas infrastructure company – to Infracapital – the infrastructure investment arm of M&G Investments.

Fortum claims that it has chosen to divest the gas infrastructure assets because they are not core to the company’s strategy.

DUON Dystrybucja S.A. is transporting both LNG and grid gas in Poland, and was acquired as part of the acquisition of the electricity and gas sales company, Grupa DUON S.A., in 2016.

Fortum claims that the transaction remains subject to both customary closing conditions and regulatory approvals. The company is expecting to finalise the transaction in 3Q17, and claims that the parties have agreed not to disclose the sales price.

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