Fortum completes Elmera squeeze-out in €482 million consolidation
The Finnish utility now owns all of Elmera Group and expects to consolidate it from October 31 ahead of a planned Oslo delisting.
Fortum said it completed the compulsory acquisition of all remaining Elmera Group ASA shares after trading closed on October 30, 2026, giving the Finnish utility 100% ownership of the company. The aggregate consideration for all Elmera shares is approximately €482 million.
Fortum expects to consolidate Elmera in its financial statements from October 31 as part of its Consumer Solutions segment. The company said it intends to pursue a delisting of Elmera’s shares from Euronext Oslo Børs, expected in early November.
The release confirms ownership, consideration and the accounting timetable but does not provide a new standalone earnings or cash-flow forecast for the combined operation. The near-term investor question is therefore how the acquired business will be integrated and reflected in Fortum’s Consumer Solutions reporting.
Sources
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