The State of Finland becomes a majority shareholder in Gasum
The State of Finland strengthens its security of supply and competitive energy supply by purchasing the 31 per cent of shares that Fortum and 20 per cent of shares that E.ON hold in the natural and biogas company Gasum Oy. With the purchase, state ownership in Gasum will increase to 75 per cent.
Prior to the purchase, the State shareholding in Gasum amounted to 24 per cent, divided between the Prime Minister’s Office (12.4%) and the National Emergency Supply Agency (11.6%).
“The role of natural gas in Finnish energy supply and in industrial use is important. I’m very satisfied that the Finnish State can execute a long-lasting decision to strengthen its security of supply and further secures a competitive energy supply for the use of Finnish industry”, says Minister Sirpa Paatero, responsible for State ownership steering.
The Prime Minister’s Office will transfer its shares in Gasum to Gasonia Oy, a State owned company set up for the ownership arrangement. After the transaction, Gasonia will hold 48.5 per cent of Gasum’s shares. The shareholding of the National Emergency Supply Agency will have increased to 26.5 per cent. The transaction price for the Fortum and E.ON total 51 per cent shareholdings is EUR 510 million.
The transaction is to ensure that Gasum has the capabilities to develop Finland’s gas market and infrastructure in the best possible way regarding natural gas, biogas and liquefied natural gas (LNG).
The transaction is expected to be completed shortly.
Inquiries: Eero Heliövaara, Director General, tel. +358 295 160 150, eero.heliovaara(at)vnk.fi, State Ownership Steering, Prime Minister’s Office