Savon Voima Oyj entered into an agreement to acquire District Heating Business in Joensuu of Fortum for approximately €530 million on December 20, 2019. The total consideration price paid on a debt and cash free basis. As part of the transaction three employees of Fortum will transfer with the business as old employees. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2020. Savon Voima Oyj completed the acquisition of District Heating Business in Joensuu of Fortum on January 10, 2020. Kinga Charpentier, Niclas Boberg and Mikko Äijälä of Ernst & Young Transaction Services France acted as exclusive financial advisor to Fortum in the transaction. Carola Lindholm, Carola Lindholm, Samuli Tarkiainen, Heidi Malmberg, Sanna Alku, Sari Laaksonen, Mikko Alakare, Mikko-Pekka Partanen, Jussi Nieminen and Minna Korhonen of Asianajotoimisto Castrén & Snellman Oy acted legal advisor to Fortum.