TGK-10 Auction
Published February 29th, 2008
Finnish utility Fortum confirmed on Friday it has won an auction in Russia to acquire a controlling stake in utility TGK-10.
Fortum said the value of the transaction is about 2.7 billion euros ($4.1 billion) if it gets a 100 percent holding in the company. It plans to use long-term loans to finance the deal.
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