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Fortum completes acquisition of Grupa DUON

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LNG Industry,

Fortum has announced that it has finalised its acquisition of 93.35% of shares in Grupa DUON S.A. – a polish gas and electricity sales company, and distributor and transporter of LNG. Overall, Fortum paid approximately €100 million as PLN3.85 was offered per share.

Matti Saario, the Head of Electricity Sales at Fortum, said: “DUON is a well managed company with very competent management and staff. Its position is strong especially in the small and medium sized enterprise segment. DUON offers us a good growth platform in the large and fast developing electricity and gas end-user market in Poland.

“I am very happy with the result of the tender process. It enables us to move forward with our ambitious plan to grow our business and to offer new value for customers in Poland with our wide portfolio of innovative products and services.”

Edited from press release by David Rowlands

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