Fortum completes sale of 50 percent stake in Stockholm Exergi
Fortum has finalized the divestment of its half-ownership in Stockholm Exergi to a consortium of European investors for approximately 2.9 billion euros.
Energy company Fortum has concluded the sale of its 50 percent stake in Swedish district heating and cooling operator Stockholm Exergi Holding AB. The transaction, originally announced in June 2021, was valued at 29.5 billion Swedish krona, or approximately 2.9 billion euros.
The buying consortium includes institutional investors APG, Alecta, PGGM, Keva, and AXA. Fortum confirmed it will record a tax-exempt capital gain of approximately 2.4 billion euros in its third-quarter 2021 financial results.
This divestment follows a series of asset sales by Fortum, including district heating businesses in Finland and the Baltic region, as the company seeks to optimize its business portfolio. Strategic reviews of the company’s heating and cooling operations in Poland and its broader consumer solutions segment remain ongoing.