Gazprom sells Eesti Gaas stake to Infortar subsidiary

5/16/2016 8:56 AM
Category: Business

State-owned Russian energy giant Gazprom sold its stake in Eesti Gaas to Trilini Energy, a subsidiary of investment firm Infortar. With the new acquisition, the latter now controls 88% of the Estonian gas utility.

Infortar’s CEO Ain Hanschmidt said that this had been the next step after they had bought Fortum’s 51% stake in February. Gazprom’s stake had been 37%. Both companies had received the same offer, Hanschmidt added.

“The next stage expanding our stake is to enter negotiations with Itera Latvija, which holds 10% of Eesti Gaas’ shares, and after that with the small shareholders,” he said.

Eesti Gaas’ annual general meeting elected a new supervisory board in April. Ants Nooda was elected chairman.

Infortar is an Estonian investment firm with €404m equity. They are active in shipping, real estate, the hotel business, and in print. Infortar owns a 38% stake in Tallink, among other businesses.

Editor: Dario Cavegn

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