26.1.2011 13:00
Stock Exchange releases

Fingrid’s ownership arrangements progressing

By virtue of a preliminary agreement, Fortum is selling its shareholding in the Finnish transmission system operator Fingrid to the State of Finland and Mutual Pension Insurance Company Ilmarinen. Pohjolan Voima is also negotiating the divestment of its holding in Fingrid to the State of Finland and Ilmarinen. Fortum and Pohjolan Voima each own approximately 25 per cent 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 27.5 per cent.
 
The ownership arrangements are caused by the EU’s directive concerning the internal electricity market. The directive requires that transmission system companies are unbundled from electricity generating and selling companies by March 2012.
 
Further information:
Fingrid Oyj, Jukka Ruusunen, President & CEO, tel.
+358 (0)40 593 8428