Norton Rose Fulbright has advised Fortum Holding BV on the acquisition of more than 90 per cent of Grupa Duon SA. Grupa Duon SA is a leading independent Polish supplier of electricity and natural gas, listed on the Warsaw Stock Exchange (WSE). The deal is worth approximately EUR 100 million.

Fortum Holding BV, part of Grupa Fortum, is a multinational energy company. It has operations focused primarily in the Nordic and the Baltic countries and Russia. The group has had a presence in Poland since 2003 as both a heat and power producer, and thermal energy distributor. Through Grupa Duon, it wants to expand its power services offering in the Polish market.

The team in Warsaw was led by Pawel Bajno (co-head of the M&A practice group, Warsaw), and Rafal Hajduk (head of the energy team, Warsaw). The team was assisted by of counsel Adam Kozlowski, of counsel Dr. Piotr Milczarek, senior associate Grzegorz Filipowicz, and associate Michal Blaszkiewicz.