Estonia, Investments, Mergers and take-overs, Port, Transport

The transaction will be finalised on Monday and the price of the transaction is confidential.

"AS Transcom decided to use the preferential purchase right of shares and will get the other half in addition to the current 50% and thus becomes the sole owner of Pärnu Port," AS Transcom council chairman Rein Kilk said.

Kilk said that the chance to acquire the port emerged when the owner of the other half of the port, AS A&O, decided to sell its stake. "Since the company is in a good state and valuable, then naturally we decided to use that possibility."

AS Pärnu Port manages the port in the mouth of the Pärnu River. The turnover of AS Pärnu Sadam was 9.29 million euros in 2011. In the first half of last year, the port handled around 1,000,000 m3 of cargo, mostly timber and peat and 276 ships visited it.