MA&s this week: Fortum, EnComm
Fortum Corporation has reached an agreement to acquire a 46.65% stake in electricity generating company Uniper from E.ON for €3.76bn ($4.468.53bn) in a public tender offer.
Fortum is engaged in the generation, distribution, and sale of electricity and heat, while E.ON is an energy utility company.
Uniper primarily uses hydro, coal, oil, and gas sources to generate electricity.
EnComm subsidiary Encomm Sweden and Swede Energy Power Solutions have signed a letter of intent (LoI) to acquire Eltel Networks TE (TEAB) and its subsidiaries from Eltel.
TEAB will continue to work under Eltel and complete two contracts in Georgia and Tanzania, which are expected to be completed during 2018.
TEAB’s sale is expected to help Eltel reduce its future operational risk.
EnComm is a services provider, while Swede Energy Power Solutions is engaged in providing nuclear, hydro, wind, transmission, and distribution solutions.
Eltel is engaged in providing technical services for critical infrastructure networks in power and communication sector.