Deals
Fortum Plans ‘Controlled Exit’ From Russia Through Sales
- Finnish lawmakers have pushed for utility to leave Russia
- CEO Rauramo says divestment process may take some time
This article is for subscribers only.
Finland’s Fortum Oyj plans to leave Russia by selling assets as policy makers pushed for the state-owned utility to exit because of the war in Ukraine.
“We have decided to pursue a controlled exit from the Russian market,” Chief Executive Officer Markus Rauramo said in a statement. “As the preferred path, this decision includes a potential divestment of Fortum’s Russian operations.”