Baltic States – CIS, Energy, Estonia, Legislation, Oil, Transport

After the consolidation, Alexela Group will own 78% of Alexela Oil, 100% of Pakrineeme Sadam and 90% of Balti Gaas.

Via an increase of the share capital of Alexela Group, the biggest owners will be Hääl and Bidilo, who then control 74% of the concern's capital.

Bidilo has been Hääl's business partner before and invested in several companies of the concern. The rest of the shares belong to several private individuals who are managers of the group's companies.

Hääl said that the approval of the Competition Board was the last formal step in creating the concern. "Now we can fully focus on implementing the strategic projects of the coming years – build an LNG terminal in Paldiski, expand the use of liquid gas as car fuel and increase the concern's own electricity production and shale oil production volumes," he said.