Fortum Sells Subsidiaries to EQT

Finnish utility Fortum plans to sell two subsidiaries to a private equity fund for around 200 million euros ($260.9 million) including net debt, writes Reuters. Fortum plans to complete the sale of Fortum Energiaratkaisut and Fortum Termest, which focus on heating and cooling systems for small businesses, to EQT Infrastructure Fund during the first quarter of 2012.

(Reuters) – Finnish utility Fortum plans to sell two subsidiaries to a private equity fund for around 200 million euros ($260.9 million) including net debt, it said on Monday.

Fortum plans to complete the sale of Fortum Energiaratkaisut and Fortum Termest, which focus on heating and cooling systems for small businesses, to EQT Infrastructure Fund during the first quarter of 2012.

The combined net sales of the two companies were around 150 million euros, it said. ($1 = 0.7665 euros) (Reporting by Helsinki Newsroom)