Finland's Fortum Cuts $2.5B Deal For Control Of Uniper

Law360 (October 8, 2019, 6:23 PM EDT) -- Finnish utility provider Fortum Oyj has agreed to buy a crop of shares in Uniper SE from two investment firms for approximately €2.3 billion ($2.5 billion) in a deal that gives it a majority stake in the German energy company, Fortum said Tuesday.

Fortum said it will acquire all shares of Uniper held by funds managed by Elliott Management Corp. and its affiliates and Knight Vinke Energy Advisors Ltd., amounting to about 20.5% of Uniper shares. The deal gives Fortum a more than 70.5% interest in Uniper and brings the company's total investment up to €6.2 billion.

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