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    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
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APG Asset Management NV, PGGM, Alecta Pensionsförsäkring, ömsesidigt, Keva and AXA IM Alts completed the acquisition of Stockholm Exergi Holding AB Fortum Oyj.

09/20/2021 EDT

APG Asset Management NV, PGGM, Alecta Pensionsförsäkring, ömsesidigt, Keva and AXA IM Alts entered into an agreement to acquire a 50% stake in Stockholm Exergi Holding AB (publ) from Fortum Oyj (HLSE:FORTUM) for SEK 29.5 billion on June 30, 2021. The APG deal team that worked on the transaction was composed of Carlo Maddalena, Bart Saenen, Jan Jacob van Wulfften Palthe, Marjolaine Lopes and Silvan Koortens. As of December 31, 2020, Stockholm Exergi reported EBITDA of SEK 2.8 billion and revenue of €700 million (approximately SEK 7 billion). The consortium was led by APG. APG will acquire 20% stake in Stockholm Exergi. The transaction was supported with a financing package provided by Intesa Sanpaolo, Mediobanca – Banca di Credito Finanziario S.p.A., Natixis and Société Générale. The transaction is subject to customary closing conditions and regulatory approvals. As of August 12, 2021, he European Commission (EC) has unconditionally approved the transaction. The transaction is expected to close before the end of 2021. DC Advisory and Rothschild & Co SCA (ENXTPA:ROTH) acted as a financial advisor, White & Case LLP and Latham & Watkins LLP acted as a legal advisor, PricewaterhouseCoopers Belastingadviseurs N.V. acted as an accountant, AFRY acted as a commercial advisor and Hallvarsson & Halvarsson acted as a public relation advisor to APG, Alecta, PGGM, Keva and AXA. Lenders were advised by Weil, Gotshal & Manges. Pekka Hiltunen and Anders Safarov of Danske Bank A/S, Finland Branch, Thomas Wrangsjö, Jacob Andersson, Johanna Backman and Axel Norhammar of Danske Bank A/S, Sweden Branch and Citigroup Inc. (NYSE:C) acted as financial advisors to Fortum Oyj. APG Asset Management NV, PGGM, Alecta Pensionsförsäkring, ömsesidigt, Keva and AXA IM Alts completed the acquisition of Stockholm Exergi Holding AB (publ) Fortum Oyj (HLSE:FORTUM) on September 20, 2021.


© S&P Capital IQ 2021
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Analyst Recommendations on FORTUM OYJ
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Financials
Sales 2021 59 644 M 69 509 M 69 509 M
Net income 2021 3 566 M 4 156 M 4 156 M
Net Debt 2021 5 372 M 6 261 M 6 261 M
P/E ratio 2021 6,54x
Yield 2021 4,30%
Capitalization 24 242 M 28 227 M 28 251 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,48x
Nbr of Employees 20 184
Free-Float 47,3%
Chart FORTUM OYJ
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Technical analysis trends FORTUM OYJ
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 26,41 €
Average target price 25,18 €
Spread / Average Target -4,65%
EPS Revisions
Managers and Directors
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Bernhard Günther Chief Financial Officer
Veli-Matti Reinikkala Chairman
Anja McAlister Deputy Chairman
Essimari Kairisto Independent Director
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