Finnish takeover of Uniper fails

A poor share offering means that Fortum could not claim the majority shareholding in the German utility. We are satisfied with being the largest shareholder, says the CEO.

Finnish utility Fortum succeeded in taking over more than 50 percent of German firm Uniper. The result of two rounds of share offerings was that the Finnish company was offered just a further 0.47 percent of the shares on top of the 46.65 percent which was already agreed upon in a deal with E.on, from which Uniper was spun off in 2016.

"We are satisfied with the shareholding we have received, which will, when the transaction is finalised, make Fortum the largest shareholder in Uniper," says Pekka Lundmark, CEO of Fortum.

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