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01/04/2014
12:09
M&A: Rosatom buys 34% of Fennovoima shares from Finland's Voimaosakeyhtio SF

On March 27, Raos Voima Oy, a subsidiary company of state-owned corporation Rosatom, and Finland-based Voimaosakeyhtio SF, Fennovoima's parent company, announced the signing of a share purchase and sale contract, Rosatom's press services informed.

Under the agreement, 34% of the shares in Fennovoima will be transferred to Raos Voima Oy.

Therefore, Voimaosakeyhtio SF currently owns 66% of the shares in Fennovoima. The transaction value has not been disclosed.

As a next step following the deal completion, Fennovoima is expected to confirm its final decision to invest in the project at the general shareholders' meeting in April where the company'S new Board of Directors will also be elected.

It will be recalled that in December 2013, Fennovoima and CJSC Rusatom Overseas signed a contract for the construction of the Hanhikivi 1 nuclear power plant which will be launched in 2024.

State Atomic Energy Corporation Rosatom (tax number: 7706413348) manages all of Russia's nuclear power assets including the civil nuclear segment and nuclear weapons. Rosatom was established on December 18, 2007, its core is state-owned holding JSC Atomenergoprom consolidating all the non-military assets of Russia's nuclear industry. Besides, the state-owned corporation operates the nuclear icebreaker fleet and owns Inter RAO UES managing power assets in 14 countries of the world.




"AK&M", 01.04.2014

 

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