Trilini to get full ownership of Eesti Gaas

Eesti Gaas' head office in Tallinn (Siim Lõvi/ERR)
10/31/2016 5:35 PM
Source: BNS
Category: Business

Investment company Trilini, the majority of whose shares are owned by Infortar, decided on Monday to take over a 1.15-percent minority holding in Estonian natural gas importer and seller Eesti Gaas, as a result of which Trilini would get full ownership of Eesti Gaas.

The shareholders' meeting on Monday decided that the company would buy 1.15 percent of the shares of Eesti Gaas, and the money and shares should move in a month, Infortar AS CEO Martti Talgre told BNS. He added that Trilini should become the full owner of Eesti Gaas by the start of next year the latest.

Trilini Energy OÜ currently owns around 98.5 percent of Eesti Gaas and the company is planning to buy the shares of minor shareholders for a reasonable price.

Trilini is to pay minor shareholders the same amount which it paid for the rest of the shares — 66.9 euros per an A share with a nominal value of 10 euros and 0.669 euros for a B share with a nominal value of 0.1 euros. Minor shareholders currently own shares in the nominal value of 149,668 euros, and thus Trilini is expected to pay them a little more than one million euros in total.

Infortar's subsidiary Trilini Energy offered to buy Fortum Heat and Gas' 51 percent stake in Eesti Gaas in February of this year. The offer was accepted and Trilini Energy acquired the shares on March 30.

Trilini Energy then made buy-out offers with the same price to the remaining major shareholders who likewise accepted the offer. The company thus acquired Gazprom's 37-percent shareholding and Itera Latvija's 10-percent shareholding in May of this year.

Editor: Aili Vahtla

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