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Fortum sells holding in Estonian gas seller Eesti Gaas

BC, Tallinn, 23.02.2016.Print version
Finnish energy group Fortum has sold its 51.4 share in Estonia's natural gas seller Eesti Gaas to Trilini Energy OU, a company partially owned by investment company Infortar, informs LETA/BNS.

"Yes, we just signed the purchase-sale agreement," Ain Hanschmidt, a member of the board of Trilini Energy OU and head of Infortar, told BNS.

 

The deal has to be improved by competition authorities of Estonia and Finland, Fortum told the stock exchange. According to the company the deal is to be concluded in the first half of 2016. The price of the transaction is not to be disclosed according to an agreement and the expected positive effect on the first half-year results of Fortum is small.

 

Fortum announced on July 1, 2014 that it was planning to divest its holding in Eesti Gaas.


Other owners of Eesti Gaas are the Russian gas giant Gazprom with 37% and Itera Latvija with 10%.

 

Trilini Energy is led by chairman of the supervisory board of Eesti Gaas Aarne Saar, and has connections with businessmen Ain Hanschmidt and Even Tudeberg. Other partners of the company include member of the supervisory board of Eesti Gaas and head of the Latvian gas company Itera Latvija, Juris Savickis, and transit businessman Viktor Golinski, who is also a minor shareholder in Eesti Gaas.






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