Fortum to sell its stakes in biobased solutions businesses in India

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

(Reporting by Anna Ringstrom, editing by Essi Lehto)