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Gasum to be entirely owned by Finland

Xinhua, December 19, 2015 Adjust font size:

Finland is set to acquire all of the Russian company Gazprom's stock in the Finnish gas company Gasum. After the transaction, Gasum will be entirely owned by the Finnish state, announced the Finnish government in a press release on Friday.

Gazprom, a Russian parastatal oil and gas company, currently owns 25 percent of Gasum's shares, and the Finnish state-owned Gasonia company holds the remaining 75 percent.

The purchase price of the deal is 251.3 million euros (272.5 million U.S. dollars).

The key reasons for the decision to buy the Gasum shares are that gas plays a central role in Finland's energy solutions and offers a cost-effective transition towards a carbon-neutral society, said the Finnish government.

The acquisition is expected to be completed in early 2016.

Founded in 1994, Gasum is the transmission system operator of the natural gas grid of Finland, and also imports and sells natural gas. Endit