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Thursday, 02.05.2024, 00:05
Trilini Energy cleared to acquire Gazprom's stake in Eesti Gaas
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When the transaction is completed Trilini Energy will own 88% of the Estonian gas distribution company.
"We are moving forward in accordance with our action plan –- in February we bought a 51% holding from Fortum, now a 37% stake from Gazprom. The offer made to Gazprom was the same as we made to Fortum," Infortar board member and chairman of the supervisory board of Eesti Gaas Ain Hanschmidt said in mid-May.
"In the next phase to increase our shareholding, we'll enter into negotiations with Itera Latvija that holds 10% of the shares of Eesti Gaas and thereafter with small shareholders," Hanschmidt added.
Trilini Energy on Feb. 23 entered into an agreement with Fortum Heat and Gas Oy of Finland to buy a 51% holding in Eesti Gaas. The Estonian Competition Authority greenlighted the acquisition in March. In April, a general meeting of Eesti Gaas elected a new supervisory board who appointed Ants Noot chairman of the management board.
An investment company with owners' equity of 404 million euros, Infortar is active in shipping, real estate, hotels and printing.
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