Finland Times

 

File Photo – Lehtikuva.

Finnish energy company Fortum on Friday announced that it had made a public tender offer in Poland to purchase all shares of power marketing company Grupa Duon SA.

 

Grupa Duon SA is an electricity and gas sales company listed on the Warsaw Stock Exchange, said Fortum in a release.

 

Duon's market capitalisation is valued at approximately euro 90 million.

 

Fortum will carry out the acquisition if it receives at least 51 percent of the shares by the end of the offer period. 

 

The transaction is aligned with Fortum's strategy to grow its share in electricity sales and related customer services.

 

“Duon would offer us a good growth platform on the Polish retail market as Fortum is looking for ways to grow faster in new energy services for consumers, communities and businesses,” said Markus Rauramo, Executive Vice President, Heat, Electricity Sales and Solutions segment of Fortum in the release.