The Finnish Fortum Group has sold IVO Transmission Engineering to a new company established by private equity investors CapMan Capital Management Oy. The new company will be called Eltel Networks Oy. The basic sale price is euros 32.5 million, but the final price will depend on the development of the business over the next few years. Funds managed by CapMan will own around 90 per cent of the new company while the operative management will retain around 10 per cent. The capital investor wants to withdraw itself from ownership in the course of around five years.