Fortum Acquires Majority Stake in Elmera Group ASA
Fortum announces the successful settlement of its voluntary cash tender offer for Elmera Group ASA. The company will acquire over 91% of Elmera's shares and intends to proceed with the compulsory acquisition of remaining shares.
Energy company Fortum Oyj has announced the successful settlement of its recommended voluntary cash tender offer for Elmera Group ASA. The offer period, managed by Fortum Consumer Solutions AS, a wholly-owned subsidiary, expired on October 2, 2026.
Fortum stated that acceptances were received for 104,755,535 shares in Elmera. This represents approximately 91.61% of Elmera's issued and outstanding share capital and voting rights. The necessary regulatory approvals and minimum acceptance conditions for the transaction have been met.
Final settlement of the shares is expected to take place on or about October 23, 2026. Following the completion of the offer, Fortum intends to initiate a compulsory acquisition process for the remaining shares in Elmera. Additionally, the company plans to delist Elmera's shares from the Euronext Oslo Børs.
Fortum initially announced its conditional cash offer for all shares in Elmera at NOK 47 per share in August 2026. The offer period was extended in September before its conclusion in early October.