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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 10:39

Alexela bought the whole Kiviõli Keemiatööstus

BC, Tallinn, 22.04.2014.Print version
As of April 16, Estonian fuel concern AS Alexela Energia is the owner of all assets of chemicals industry OÜ Kiviõli Keemiatööstuse Varad, Äripäev.ee/LETA reports.

On March 21, the Competition Board received a notice of concentration, according to which, AS Alexela Energia would acquire OÜ Kiviõli Keemiatööstuse Varad. According to the Business Registry, as of April 16, the previous shareholders Raivo Tamm and Toomas Tamm have exited the list of owners. Äripäev estimates that the price of the transaction is in the range of EUR 40–50 million.

 

Alexela Energia bought the first 50% of Kiviõli Keemiatööstus at the beginning of 2012, paying 30.3 mln euro for the company that mines oil shale and produces and sells oil products made of oil shale.

 

Alexela Energia AS CEO Marti Hääl commented in March, after submitting the notice of concentration, that at the beginning of 2012 they entered the company with the strategic plan of investing in the oil shale sector and in two years, they had invested EUR 15 million in it, mainly in the environment sphere.

 

Kiviõli Keemiatööstuse Varad turnover in 2012 was 35,129,807 euros and profit 10,508,960 euros.






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