A PYMNTS Company

EU: Fortum close to gaining antitrust approval for Uniper

By  |  June 11, 2018

Finnish utility Fortum is set to gain unconditional EU approval to acquire a 46.65% stake in German energy group Uniper from E.ON, reported Reuters.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    State-controlled Fortum’s bid has run into opposition from Uniper, which said that the combination would make little sense given its heavy exposure to gas and coal-fired power plants while Fortum’s focus is on clean technologies.

    Approval by the EU would mark a major step towards the deal’s completion, which still requires regulatory clearance from Russia, where Uniper operates several assets through its subsidiary Unipro, to go through.

    The European Commission is scheduled to rule on the €3.8 billion (US$4.5 billion) deal, first agreed by Fortum and E.ON in September, by June 15.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.