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BRIEF-Fortum signs deal to buy E.ON's Uniper stake, offer for EUR 22/shr
September 26, 2017 / 4:30 PM / a month ago

BRIEF-Fortum signs deal to buy E.ON's Uniper stake, offer for EUR 22/shr

Sept 26 (Reuters) - Fortum Oyj -

* Fortum Oyj- Signed transaction agreement under which E.ON has right to decide to tender its 46.65% shareholding in Uniper SE into public takeover offer in 2018

* To launch voluntary public takeover offer to all Uniper shareholders

* Cash offer to Uniper shareholders (including E.ON) with total value of EUR 22 per share

* Fortum Oyj says total equity value of E.ON’s 46.65 pct -stake amounts to EUR 3.76 billion

* If E.ON does not tender its Uniper stake, Fortum will have right to sell to E.ON any Uniper shares acquired in connection with offer

* Fortum Oyj says offer will be financed with existing cash resources and committed credit facilities

* Fortum Oyj says expects its ongoing cash generation together with dividend from Uniper to reduce this position toward our stated target

* Fortum Oyj says whilst leverage at Fortum will increase as a result of this transaction to above our guidance net debt/EBITDA level of around 2.5x

* Fortum Oyj says Fortum will have right to sell to E.ON any Uniper shares acquired in connection with offer

* Fortum in addition receive a compensation payment from E.ON of at least 20 pct of total equity value of E.ON’s stake in Uniper Source text for Eikon: Further company coverage:

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