Three Wind Energy Enterprises Merge
Published: 25.01.2012 16:55
Photo: Postimees/Scanpix
Wind energy firm Nelja Energia OÜ and two of its shareholders - the Scandinavian company Vardar Eurus and the investment fund Freenergy - signed a merger agreement on Tuesday.
The result is an Estonian-Norwegian holding company, reported Äripäev.
"The management and owners will be consolidated. A parent company will be formed from the newly merged companies, and the wind farms will remain subsidiaries," said Chairman of the Board Martin Kruus.
The consolidation process is expected to take roughly a month, and companies must first apply for a confirmation by the Competition Authority.
"For me this is like launching a big ship into the water. I am content as a minority shareholder. This was the initiative of Vardar and the European Bank for Reconstruction and Development, with some small investors on board," said Jüri Mõis, a shareholder of Freenergy.
Ott Tammik