State buys Fortum and E.ON shares in Gasum
Finland purchased the 31 percent of shares owned by Fortum and 20 percent of shares that E.ON holds in Gasum, increasing state ownership in the company to 75%.
Prior to the purchase, the state shareholding in Gasum amounted to 24%, divided between the Prime Minister’s Office (12.4%) and the National Emergency Supply Agency (11.6%). The Prime Minister’s Office will transfer its shares in Gasum to Gasonia, a state owned company set up for the ownership arrangement. After the transaction, Gasonia will hold 48.5 per cent of Gasum’s shares. The shareholding of the National Emergency Supply Agency will have increased to 26.5 per cent.
”It is important that the owners are committed to Gasum’s strategy and long-term development of the company. We actively develop the LNG and bio gas infrastructure and production in Finland and other Nordic countries to be able to offer more competitive energy for our customers’ needs,” says Gasum CEO Johanna Lamminen.
This is supported by the Prime Minister’s Office as it sees the transaction as assurance that Gasum has the capabilities to develop Finland’s gas market and infrastructure in the best possible way regarding natural gas, biogas and liquefied natural gas.
The transaction price for the Fortum and E.ON total 51 per cent shareholdings is EUR 510 million, according to the Prime Minister’s Office statement.
LNG World News Staff; Image: Gasum