Fortum to sell its stakes in biobased solutions businesses in India

STOCKHOLM : Fortum said on Monday it had agreed to sell its 37.4 per cent stake in Finnish biorefining technology firm Chempolis, including Fortum's biobased solutions businesses, and its stake in the firm that owns 40.3 per cent 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.