Fortum Wins Russian Approval to Buy $4.5 Billion Stake in Uniper
- Russia’s foreign investment commission sets limit on purchase
- CEO says merger needs cooperation of Uniper management
Photographer: Casper Hedberg/Bloomberg
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A powerful Russian commission on Saturday approved Finnish utility Fortum Oyj’s $4.5 billion bid for a minority stake in German rival Uniper SE, a key step to completing the merger, the company said.
Action by the Russian commission of foreign investments in strategic assets would allow the purchase of a 47 percent stake in Uniper by Fortum, which is majority owned by the state.