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Article: Norilsk, Fortum cancel Kolenergo deal (Part 2).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- September 15, 2006
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Norilsk, Fortum cancel Kolenergo deal (Part 2)
MOSCOW. Sept 15 (Interfax) - MMC Norilsk Nickel (RTS: GMKN) and Fortum have cancelled a deal in which the Finnish company would have acquired 24.8% of Kolenergo (RTS: KOLE), Fortum said in a press release.
"The transaction would have strengthened Fortum's position in Territorial Generation Company, TGC-1, that will be formed through the merging of the generation assets of Kolenergo, Lenenergo and Karelenergo. Now Fortum's ownership in TGC-1 will be slightly over 18 percent," the release says.
Kolenergo was spun off into six joint stock companies during energy reform, including Kola Trunk Grid, Kola ...