Fortum, the Finnish State and Ilmarinen Mutual Pension Insurance Company have come to a preliminary agreement according to which Fortum will sell its 25%-shareholding in the Finnish transmission system operator Fingrid Oyj. The State will buy approximately 81% and Ilmarinen approximately 19% of Fortum's Fingrid shares (25%). The transaction is subject to a final agreement between the parties and to necessary approvals by their decision-making bodies. Furthermore, the completion of the transaction requires the approval of the Finnish Competition Authority.
Pohjolan Voima is also negotiating the divestment of its holding in Fingrid to the State of Finland and Ilmarinen. Pohjolan Voima also owns approximately 25% of Fingrid’s shares.
After the share transaction, the holding of the State of Finland in Fingrid would be 53.1 per cent and that of Ilmarinen 19.9 per cent. The other shareholders, which are mainly Finnish pension insurance and insurance companies, would have a holding of 27 per cent.