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Fortum makes public tender offer for Duon

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LNG Industry,

Fortum has announced that it has made a public tender offer to purchase all shares in Grupa Duon SA. Duon is a privately owned Polish retail gas and electricity sales company, which is also involved in the wholesale trading of electricity and gas. Furthermore, Duon provides both grid gas and LNG through its own infrastructure.

Markus Rauramo, the Executive Vice President, Heat, Electricity Sales and Solutions sector of Fortum, said: “Duon would offer us a good growth platform on the Polish retail market as Fortum is looking for ways to grow faster in new energy services for consumers, communities and businesses.”

Fortum claims that it will executive the acquisition providing it receives a minimum of 51% of the shares by the end of the offer period on 26 February 2016. The offer period will officially begin on 28 January 2016.

Edited from press release by David Rowlands

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