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Fortum Makes Non-Binding Offer to Acquire Ekokem

Finnish energy company Fortum has made a non-binding offer to acquire circular economy firm Ekokem for a non-disclosed amount.

Currently, 80 percent of Ekokem is owned by government, the Association of Finnish Local and Regional Authorities, the pension insurance company Ilmarinen and Helsinki Regional Environmental Services Authority, HSY.

Earlier this year, Ekokem announced that it was considering an IPO, and parliament gave the state approval to sell its company shareholding.

Uutiset has more information about the possible acquisition:

Energy firm Fortum has made an initial, non-binding offer to purchase the stake held by the four largest shareholders of circular economy firm Ekokem.

The big four own 80 percent of the company and are the government, the Association of Finnish Local and Regional Authorities, the pension insurance company Ilmarinen and Helsinki Regional Environmental Services Authority, HSY.

Fortum did not disclose the price it has offered for a controlling share of Ekokem, nor did it reveal any timetable for concluding a possible deal, but it said that Ekokem would be a good fit for its clean energy strategy.

Read the full story here.

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