Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
  • inderesTV
  • Forum
  • Nora AI
  • About Us
    • Our Coverage
    • Team
Press release

Fortum completes the acquisition of Telge Energi AB

Fortum

FORTUM CORPORATION INVESTOR NEWS 31 AUGUST 2023 AT 17:50 EEST

Fortum has today completed the acquisition of the Swedish electricity solutions provider Telge Energi AB from Telge AB. The total consideration for the entire shareholding in Telge Energi on a cash and debt-free basis was approximately SEK 450 million (EUR 38 million). The transaction was announced on 7 June.

The transaction required approvals from the municipal government and the local government council of Södertälje as well as the clearance by the European Commission.

Telge Energi will be reported in Fortum's Consumer Solutions segment in the third quarter of 2023.

The acquisition is in line with Fortum's strategy to deliver reliable and clean energy, to drive decarbonisation of its customers' processes, and to transform and develop. The transaction further strengthens Fortum's leading position in providing clean electricity solutions to consumer and enterprise customers in the Nordics.

Telge Energi is among the 10 largest clean electricity retailers in Sweden with a portfolio of approximately 150,000 customer contracts. The customer base consists of retail customers and households, as well as small and mid-sized enterprise customers. In 2022, Telge Energi delivered 1.8 TWh of electricity, the total of which was clean energy with an EBITDA of SEK 23 million (approximately EUR 2 million). The company has some 100 employees.

Fortum Corporation
Ingela Ulfves, VP, IR and Financial Communications

Further information:

Investors and analysts:
Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 515 1531
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150

Media:
Fortum Newsdesk: tel. +358 40 198 2843

Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.