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Fortum Sells E-Mobility Business Plugsurfing to Fleetcor Technologies for EUR75 Million

By Dominic Chopping

 

Finnish energy group Fortum Oyj said Thursday that it has sold its e-mobility business Plugsurfing to Fleetcor Technologies Inc. for 75 million euros ($75.4 million).

Plugsurfing is a pan-European platform that aligns the car charging ecosystem - drivers, charging point operators and car makers. Their service connects more than one million registered electric vehicle drivers to a network of 300,000 charging points.

"The new owner will enable Plugsurfing to speed up the scaling of its business," Fortum said in a statement.

Fortum expects to record a tax-exempt capital gain of around EUR50 million in its third-quarter 2022 results.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

September 01, 2022 08:50 ET (12:50 GMT)

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