The engineering consultancy, focusing on hydro, wind and thermal power as well as power networks, will be incorporated into a newly established company in Sweden to be called SwedPower.
The divestment is part of Vattenfall’s new strategic direction, focusing on the core business and markets in Sweden, Germany and Netherlands.
The transaction is conditional to completion of a due diligence process, the agreement on transitional services and the final approvals of the boards of directors of Poyry and Vattenfall.
The transaction is expected to be completed by the end of June 2011.
