OREANDA-NEWS. Fortum has obtained 100% of shares in Grupa DUON S.A., an electricity and gas sales company listed on the Warsaw Stock Exchange.

Fortum announced a tender offer for Grupa DUON S.A. on 8 January 2016. During the subscription period that ended on 26 February 2016 Fortum received subscriptions from shareholders representing altogether 93.35% shares in the company at the offered price PLN 3.85 per share. The remaining shares were purchased from shareholders under the mandatory squeeze-out procedure at the same price per share.

The acquisition is in line with Fortum's strategy to offer and grow in sustainable city solutions.