Final results of Fortum's MTO to TGC-10 minorities available end of October
In April 2008, Fortum made a mandatory public tender offer (MTO) for the entire
share capital of Territorial Generating Company No. 10 (TGC-10) to TGC-10
minorities. At the end of September, Fortum's ownership in TGC-10 was over 93%
including shares owned by TGC-10's fully-owned subsidiary. By that time Fortum
had paid EUR 440 million for share purchases under the MTO. Clearing of the
share transactions is still ongoing and the final results of the MTO will be
known and published at the latest at the end of October 2008 when Fortum will
have to submit the final report on the results to the Russian regulators.
In the event that Fortum's shareholding in TGC-10 exceeds 95% as a result of the
MTO Fortum may redeem the remaining shares in TGC-10. The redemption of
remaining shares is, however, subject to decision by Russian authorities.
Fortum Corporation
Maria Romantschuk
Senior Vice President, Communications
Further information:
Kari Kautinen, Vice President, M&A, Fortum Corporation,
+358 10 453 2174
Distribution:
NASDAQ OMX Helsinki
Key media
www.fortum.com