FCCA approves business transaction of Fortum and Teollisuuden Voima Oyj

The Finnish Competition and Consumer Authority (FCCA) approved on 12 May 2016 a business transaction whereby Fortum Power and Heat Oy and Teollisuuden Voima Oyj (TVO) will found a joint venture called Posiva Solutions Oy.

Fortum Power and Heat Oy produces and sells electricity, district heating and district cooling. It also offers nuclear energy expert services and energy efficiency services and develops new forms of energy business. TVO operates in the field of electricity production, offering lifecycle management services for nuclear plants through its subsidiary TVO Nuclear Services Oy.

Fortum and TVO will found a joint venture called Posiva Solutions Oy which will focus on design, research and development activities and consultancy related to the final disposal of high-level radioactive waste. The FCCA has concluded that the acquisition will not significantly impede effective competition or have a material negative impact on competition.

The FCCA’s decision contains business secrets of the parties involved. The decision can only be published after the confidential information has been removed, which will take approximately two weeks.

Further information: Research Officer Pontus Ranta, tel. +358 29 505 3747