European energy firm Fortum is planning a possible sale of its 50% stake in a district heating and cooling company in Stockholm, Sweden as part of an ongoing business review.
Fortum said it is considering its strategic options for its holding in Stockholm Exergi and as part of the process, it has entered talks with the City of Stockholm, owner of the other 50% share in Stockholm Exergi.
Fortum has co-owned Stockholm Exergi together with the City of Stockholm since 2002.
Fortum said there is no certainty whether the assessment will result in any transactions and it will inform the market, if and when appropriate.
The latest move is in line with Fortum’s plan and continued review of the business portfolio, the company said.
In February this year, Fortum announced the strategic review of its district heating businesses in Poland, in the Baltics and in Järvenpää, Finland.
In July, Finnish local government and church pension fund Keva has joined forces with Vantaa Energy and Infranode to buy the heating business in Järvenpää from Fortum for around €375m.
Fortum said the reviews of its district heating operations in Poland and the Baltics are still ongoing.
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