Energy, Estonia, Good for Business, Markets and Companies

The parties to the transaction have agreed not to disclose the price of the transaction.

The parties have also submitted a relevant application to the Competition Authority. 

Andreas Laane, CEO of Alexela Grupp, said that the acquisition of holding in the daily is a new direction of activity for Alexela that will bring along interesting challenges.

"We believe that our longstanding experience in offering various energy products to private persons is a good prerequisite for making it in the media business as well. With this step, our wish also is to ensure the survival of independent journalism in Estonia. Alexela is an innovative forward-looking company that bears a strong sense of social responsibility and the wish to make Estonian life better," Laane said.

Janek Veeber, member of the management board of seller of Ohtuleht Kirjastus' shares AS Giga, said that it was the right time to sell the holding in Ohtuleht. According to Veeber, it was a successful investment.

Alexela Group is a holding company that operates in three areas of business -- energy, metal industry and oil shale chemistry. The core owner of the group is Estonian businessman Heiti Haal, with other owners including Marti Haal and Aarto Eipre.

AS Ohtuleht Kirjastus is a media organization mainly aimed at publishing the Ohtuleht newspaper. Included in the company's product portfolio are newspapers, magazines, online portals and crosswords.