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Fortum: Wind Energy Development Fund And Government Of Orenburg Region Sign Cooperation Deal
Uniper: We Will Analyse Fortum Gaining Control of Our Company
Fortum To Acquire Majority In Uniper
Fortum Oyj is a Finland-based company engaged in the generation and sale of electricity and heat, and operation and maintenance of power plants, as well as energy-related services. The Company operates, along with its subsidiaries, in four business segments: Power, comprising the Company’s power generation, physical operation and trading, as well as expert services for power producers; Heat, consisting of combined heat and power generation (CHP), district heating and cooling activities and business-to-business heating solutions; Russia, including power and heat generation and sales in Russia, and Electricity Solutions, responsible for Fortum’s electricity sales. The Company operates in Finland, Sweden, Norway, the Russian Federation, Poland, Lithuania, Latvia, Estonia, India and the United Kingdom, among others.
Keilaniementie 2-4, CD building
Independent Chairman of the Board
Pekka Ilmari Lundmark
President, Chief Executive Officer, Member of the Executive Management
Independent Deputy Chairman of the Board
Markus Heikki Erdem Rauramo
Chief Financial Officer, Member of the Executive Management
Executive Vice President, Russia Division; General Director of PAO Fortum; Member of the Executive Management
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Uniper's <UN01.DE> CEO will fight to get clarity from top shareholder Fortum <FORTUM.HE> on a range of issues ahead of a planned stake hike, he said in an internal memo, underlining that the German utility will remain independent for now.
Uniper's CEO will fight to get clarity from top shareholder Fortum on a range of issues ahead of a planned stake hike, he said in an internal memo, underlining that the German utility will remain independent for now.
Uniper <UN01.DE> said on Thursday its suitor, Finnish utility Fortum <FORTUM.HE>, had yet to address a range of questions from the German energy firm's management to convince it to support a takeover deal.
Germany's Uniper on Thursday said its suitor, Finnish utility Fortum, has yet to address a range of questions about its intentions in ongoing takeover talks to get management support for any deal.
Finnish utility Fortum is set to gain control of Germany's Uniper by acquiring the stakes of activist funds Elliott [ECAL.UL] and Knight Vinke, potentially ending a long-running deadlock over ownership of the group.
Finland's Fortum has claimed the supervisory board chair at Uniper should a deal to buy stakes from two activist funds be approved by regulators, its chief executive said.
Labor representatives at Uniper <UN01.DE>, fearing a ratings downgrade in the event of a full takeover of the German energy group, have called on major shareholder Fortum <FORTUM.HE> to lay out plans for future cooperation between the two companies.
German energy firm Uniper <UN01.DE> is holding constructive but complex talks with top shareholder Fortum <FORTUM.HE> over their future cooperation, its new chief executive said, signaling slow progress in attempts to end a long-standing deadlock.
Finnish utility Fortum <FORTUM.HE> beat second-quarter profit expectations on Friday, boosted by higher power prices and a rise in electricity generation volumes, and said it was continuing talks with bid target Uniper's <UN01.DE> management.
Fortum beat second-quarter profit expectations on Friday boosted by higher power prices and increasing volumes in electricity generation from the Finnish utility's hydro and nuclear power assets.
Fortum <FORTUM.HE>, the state-controlled Finnish utility, wants to restart talks with the management of Germany's Uniper <UN01.DE>, in which it owns 49.9 percent after a hostile takeover, it said on Monday.
Some small shareholders in Uniper see room for a tie-up with top shareholder Fortum, joining activist calls to end a standoff after the Finnish group's acrimonious failed takeover attempt.
Fortum's chief executive officer has met with Russian President Vladimir Putin to discuss a key ownership restriction that is preventing the Finnish firm from taking control of German utility Uniper, it said on Tuesday.
Fortum's chief executive officer has met with Russian President Vladimir Putin to discuss a key ownership restriction that is preventing the Finnish firm from taking control of German utility Uniper , it said on Tuesday.
Uniper's chairman on Sunday said talks with major shareholder Fortum to resolve a dispute between the two companies were on hold after two of the German utility's board members resigned.
Uniper signaled on Wednesday little prospect of a rapid breakthrough in talks with top investor Fortum that might lead to a full takeover of the German utility.
German energy firm Uniper will not risk its investment grade in fresh talks over cooperation with top shareholder Fortum , Chief Financial Officer Christopher Delbrueck said on Wednesday.
Fortum on Tuesday made progress in talks over cooperation with energy group Uniper, of which it owns 49.99%, shortly after activist funds stepped back from increasing pressure on the Finnish utility to seek full control.
Finland's Fortum, Uniper's top shareholder, will state its position on activist proposals - some of which could trigger a breakup of the German firm - once it has formed a view, a spokeswoman for the group said.
* Uniper keeps FY targets, shares down 0.5 percent (Adds Uniper statement on Knight Vinke proposal)
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.