Fortum Sells Heating Subsidiaries To EQT For $260M

Law360, New York (December 19, 2011, 3:33 PM EST) -- Swedish private equity firm EQT Partners is buying energy company Fortum Corp.’s heating businesses in Finland and Estonia for roughly €200 million ($260.5 million), the companies announced Monday.

EQT, headquartered in Stockholm, signed an agreement with Fortum to acquire Fortum Energiaratkaisut Oy in Finland and Fortum Termest AS in Estonia, formerly part of Fortum’s heating division and leading providers of industrial outsourced energy solutions, according to the statement.

“We see a lot of growth opportunities both in acquiring new customers and in the conversion of existing...
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