Fortum to sell its stakes in biobased solutions businesses in India
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FILE PHOTO: A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. REUTERS/Francis Mascarenhas/File Photo
STOCKHOLM (Reuters) - Fortum said on Monday it had agreed to sell its 37.4% stake in Finnish biorefining technology firm Chempolis, including Fortum's biobased solutions businesses, and its stake in the firm that owns 40.3% of Assam Bio Ethanol in India.
The Finnish energy group said in a statement the buyer is India's AM Green Technology & Solutions.
Fortum said the divestment is a part of its strategic review and would not have a material impact on its result.
(Reporting by Anna Ringstrom, editing by Essi Lehto)
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