June 4, 2018 / 3:44 PM / 2 months ago

Fortum secures first Russian clearance for Uniper deal

HELSINKI (Reuters) - Finnish utility Fortum (FORTUM.HE) said on Monday it had secured the postponed clearance for its planned investment in Germany’s Uniper (UN01.DE) from the Russian Federal Antimonopoly Service.

FILE PHOTO: A general view of the Fortum headquarters in Espoo, Finland August 18, 2017. Picture taken August 18, 2017. REUTERS/Lefteris Karagiannopoulos

The process had been postponed due to legislative changes in Moscow. The deal still requires a second Russian merger clearance as well as one from the EU, both of which are expected during the summer, Fortum said.

Fortum has agreed to buy a stake of up to 50 percent in Uniper. Both companies have large operations in Russia and Moscow’s approval is considered as the key step in getting the deal done.

Reporting by Jussi Rosendahl; Editing by Daniel Dickson

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