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Elering becomes a public limited company
Juhan Tere, BC, Tallinn, 02.03.2011.
Print version
Print versionEstonian economy minister Juhan Parts signed last week a decision of reforming state-owned electricity main grid company Elering into a public limited company called Elering AS, LETA/Eesti Päevaleht Online reports.
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The previous legal form of the company, private limited company, was used because previously the company, then called OÜ Põhivõrk, was part of the Eesti Energia concern.
Elering said that the change of legal form is needed to guarantee local market players and foreign partners the biggest possible credibility.
The share capital of Elering AS consists of 140,000 shares with face value of 1,000 EUR each, a total of 140 million euros. Elering’s equity capital is 160 million euros and assets volume 419 million euros.
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