The Minister of Economic Affairs and Infrastructure, Riina Sikkut, has decreed the transfer of shares in the state-owned Technical Center of Estonian Roads (AS Teede Tehnokeskus) at an initial price of €3.9 million.
The State has decided to sell 10,554 shares of Technical Center of Estonian Roads (AS Teede Tehnokeskus) with a nominal value of €100 at a public auction, representing 100 percent of all outstanding shares.
KPMG Baltics OÜ has been authorized to offer the necessary financial and legal services for the preparation of the shares' public auction.
Regina Raukas, executive officer of the economic analyses division at the Ministry of Economic Affairs, along with Mario Lambing, Karel Lember and Triin Ahlberg from KPMG Baltics OÜ, were appointed to head a commission tasked with evaluating the bids.
A non-binding indicative bid can only be submitted by bidders who have been granted access to the data room. The deadline for submitting indicative bids is September 8, 2022.
The auctioneers who have been allowed access to the data room and have filed a valid indicative bid can submit a binding bid. The deadline to submit a binding proposal is October 20, 2022.
The deposit of €100,000 is due no later than October 20.
AS Teede Tehnokeskus is a company that offers engineering services in the field of road infrastructure, with the goal of generating new knowledge and solutions for the contraction and management of roads. The company runs effectively in a market economy and has no direct government contracts. Latvia, Lithuania, and Germany are also served in addition to Estonia.
The company employs around fifty people and it's net income of in 2020 was €306,400 on nearly €3.5 million in revenue.
Editor: Kristina Kersa