Energy, Estonia, Legislation, Mergers and take-overs, Transport

According to Heiti Hääl, Chairman of the Management Board of Alexela Group, the exit of long term business partner Igor Bidilo from Alexela is an unanimous decision of all shareholders and necessary step for the company’s future. „During previous years, Alexela Group has developed rapidly and our partner’s role in this process has been significant”, Hääl added. The price of the transaction will be not disclosed.

According to Hääl, a syndicated loan is used to co-finance the acquisition. “Initial agreements have been made and the transaction will be finalised soon”, said Hääl. Kadaka Varahaldus is a company managed by the Management Board of Alexela Group and its shareholders include Heiti Hääl, Marti Hääl, Juhan Parmas, Aarto Eipre and Ain Kuusik.

Alexela Group is a holding company that operates in three areas of business – energy, property and the metal industry. Energy industry is represented by fuel retailer Alexela Oil, Paldiski LNG terminal developer Balti Gaas, fuel wholesale comapany Energia Nord, oil products producer Kiviõli Keemiatööstus, liquefied and natural gas company Reola Gaas and electricity seller Elektrimüügi AS.

 Real estate companies in the group are OmaKoduMaja, Paldiski Arendamise AS and Baltic Exchange. Alexela Group’s companies operating in metal industry are AS Bestnet, known by Tiki brand, the producer of trailers and Paldiski Tsingipada (Zincpot), using the latest and most modern technology in the region in hot dip galvanization of steel. The companies that are part of Alexela Energia have a consolidated turnover of over 214 million euro and more than 1,000 employees all over Estonia.