Fortum launches offer to acquire Elmera Group shares
Fortum has commenced a recommended voluntary public cash offer for Elmera Group shareholders. The offer period began on August 21, 2026, and will conclude in September.
Energy company Fortum Oyj has launched a recommended voluntary public cash offer for all shares in Norwegian Elmera Group ASA. The offer period commenced on August 21, 2026, and is set to conclude on September 18, 2026, unless extended.
Fortum's subsidiary, Fortum Consumer Solutions AS, is making the offer at a price of NOK 47 per share. This represents a premium of approximately 59% compared to Elmera's closing share price on June 24, 2026. Elmera Group's board of directors has unanimously recommended shareholders accept the offer.
The acquisition aligns with Fortum's strategy to expand its consumer solutions business and strengthen its position in the Nordic electricity markets. Elmera brings a significant customer base in Norway and growing operations in Sweden and Finland. Combining the companies' operations is expected to yield cost efficiencies and operational synergies.
Several key Elmera shareholders, including the largest industrial shareholder Gudbrandsdal Energi Holding AS, board members, and management, have committed to tender their shares in the offer. These shareholders collectively represent approximately 7.1% of Elmera's shares.