– In addition to the previously announced (in March. – Note. ed.) termination of investments and financing of our Russian subsidiaries, we have decided to carry out a controlled exit from the Russian market. As a preferred path, this solution includes the potential sale of Fortum’s Russian operations, — informed Fortum President and CEO Markus Rauramo.
The Fortum corporation includes the Russian company Fortum (98.23%) and TGK-1 (Fortum has 29.45%, the main shareholder is Gazprom Energoholding). Fortum also owns a 73.4% stake in the German energy company Uniper, which owns 83.73% of Unipro PJSC in Russia. For 2021, Fortum posted revenue of 112.4 billion euros, with comparable operating income of 2.54 billion euros.
The sale of Uniper’s Russian subsidiary, Unipro, will be resumed as soon as possible, CEO of Fortum added.
— These processes may take some time and are subject to regulatory approval. Nevertheless, we have decided to stop using the Fortum brand in Russia,” Markus Rauramo emphasized.