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International Internet Magazine. Baltic States news & analytics Saturday, 16.01.2021, 14:23

Finland acquires indirect holding in Latvijas Gaze shareholder

BC, Riga, 04.11.2020.Print version
Finland has acquired indirect holding in Germany's Uniper Ruhrgas International GmbH, which is one of the shareholders of the Joint Stock Company Latvijas Gaze, according to information provided to Nasdaq Riga, cites LETA.

According to the statement to the stock exchange, Latvijas Gaze gas utility on November 4 received a notification according to which, Finland, through its Fortum Oyi and a number of other companies, has indirect control over Uniper since August 17, 2020.

The extent of Uniper's holding in Latvijas Gaze has not changed. Since 2016 it owns 18.26% of Latvijas Gaze shares.

The statement says that Fortum acquired the Uniper shares in March this year, increasing its stake in the company to more than 50%. After that Fortum's stake in Uniper continued to increase until it reached 75.01% in August.

Fortum already operates two companies in Latvia - Fortum Latvia and Fortum Jelgava, whose owner is the Dutch-registered Fortum H&C 1 B.V.

As reported, Latvijas Gaze closed 2019 with EUR 314.349 million in turnover and a profit of EUR 20.19 million.

Latvijas Gaze shares are traded on the Nasdaq Riga Secondary List.

The gas company's key shareholders include Gazprom (34%), Marguerite Gas II.S.a.r.l. (28.97%) Uniper (18.26%) and Itera Latvija (16%).

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