Fortum optimistic about Uniper deal; includes up to EUR 1.5bn cancellation fee (translated)
The Finnish energy company Fortum [HEL:FORTUM] is optimistic the deal to acquire German energy group Uniper [ETR:UN01] will go ahead, according to Arvopaperi.
The Finnish-language piece cited comments by Fortum Chief Executive Pekka Lundmark made during a television programme. Lundmark is optimistic that talks with Uniper's management will be constructive, it added.
If E.On [ETR:EOAN] decides not to sell its Uniper shares to Fortum, the Finnish group is entitled to a large cancellation fee, basic amount is approximately EUR 750m, the article noted.
In addition, the fee includes a variable amount, depending on Uniper's share price. The maximum amount of the fee can be around EUR 1.5bn.
Fortum announced its plans to acquire a 47% stake in Uniper form E.On last month at EUR 22 per share.