Fortum could be eyeing both Pohjolan Voima and Uniper for acquisition – report (translated)
31 AUG 2017
Fortum [HEL: FORTUM], the Finnish energy company may be eyeing both Finnish energy group Pohjolan Voima and Germany's Uniper [ETR: UN01] for an acquisition, a Kauppalehti Online report said.
The Finnish-language piece cited a report by the bank Nordea, which added that Pohjolan Voima is more likely a target since the company is majority owner in Olkiluoto nuclear power station, which is of interest to Fortum.
The report said that the price for Pohjolan Voima would be in the region of EUR 3bn, which Fortum can afford.
Fortum is likely to be interested in Uniper's hydro and nuclear businesses only, but it looks unlikely that the company would be sold in parts.
If Fortum was to buy all of Uniper, with the deal it would get several businesses that are not part of its strategy, the bank noted. Acquisition of Uniper would require Fortum to make disposals or shares issue, which makes Uniper less likely target, the item said.