Putin signs nationalization of Fortum, Unipro stakes

MOSCOW/HELSINKI, Apr 26 (PRIME) -- Russian President Vladimir Putin approved late on Tuesday temporary nationalization of stakes in power companies Fortum and Unipro and their management by the Federal State Property Management Agency, according to the order published on the website for legal acts.

"The list of movable and immovable assets, securities, stakes in the shareholder… equity of Russian legal entities and property entities, for which external management is introduced," the statement read.

The decree lists 83.73% in Unipro owned by Uniper, 69.8807% in Fortum owned by Fortum Russia and 28.3488% owned by Fortum Holding.

Earlier in the day, Putin signed a decree on temporary external management of foreign assets in case of withdrawal of Russian assets abroad.

Fortum estimated the confiscated property at 1.7 billion euros, while the market value of the entire company was assessed at 12 billion euros as of Tuesday.

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