Fortum acquired 93.35% stake in Duon

Finnish power utility Fortum has acquired a 93.35% stake in energy trader Duon or 111.9 mln shares in tender offer, paying PLN 3.85 per share, offer manager Pekao IB said in a statement. The stake gives Fortum 93.5 percent of votes at the general meeting. On February 25 Fortum informed it would go ahead with Duon tender offer as all the conditions of the deal, including securing a 51% stake, had been met. Fortum had said it could delist the firm if it reaches 80 percent of shares.