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Eesti Energia asks permission from Competition Authority to buy Nelja Energia

Estonian news - eteap June 8, 2018

Baltic News Service. 8th of June, 2018

The Estonian state-owned energy company Eesti Energia submitted an application to the Competition Authority to acquire the renewable energy company Nelja Energia.

The Competition Authority received a merger notice on Friday, according to which Enefit Green AS is planning to acquire dominant influence over Nelja Energia AS. The interested parties have seven calendar days to provide their opinion and objections regarding the merger to the Competition Authority, it is written in the merger notice.

Enefit Green AS, fully owned subsidiary of the Estonian state owned energy group Eesti Energia, and Vardar Eurus and minority shareholders signed an agreement on May 29 regarding all the shares in Nelja Energia, a renewable energy producer and developer in the Baltic countries. The consideration payable for 100 percent of the shares of Nelja Energia amounts to 289 million euros. In addition, the buyer assumes Nelja Energia‘s net debt which amounted to 204 million euros as at the end of 2017.

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