Infortar acquires more shares in Tallink, boosting holding to 46.74 percent

In a non-stock exchange transaction concluded on Tuesday, Estonian investment firm AS Infortar on Wednesday acquired an additional more than 26 million shares in AS Tallink Grupp, bumping its overall holding in Tallink to 46.74 percent.
The 26,030,390 shares, representing 3.5 percent of all Tallink shares, were acquired at a price of €0.64 per share, according to a market notice.
As a result of the transaction, Infortar will not gain control over Tallink within the meaning of the Securities Market Act. Wednesday's transaction is not considered to be outside the scope of ordinary economic activities or a transaction of significant importance or a related party transaction within the meaning of Nasdaq Tallinn Stock Exchange regulations, the company noted.
The transaction likewise does not have a significant impact on Infortar's operations and financial results, nor are members of Infortar's supervisory or management boards personally interested in this transaction in any other way, it added.
"Tallink is a publicly listed company with a strong market position and low leverage, which is why we have consistently increased our shareholding in recent years," Infortar board chair Ain Hanschmidt said, commenting on the news. "Tallink has gone through crises and is showing its best financial results. At Infortar, we view Tallink as a long-term investment that effectively diversifies our portfolio."
Investment firm AS Infortar operates in six countries. Its main fields of activity include energy, maritime transport and real estate, but it also operates in construction and mineral resources, agriculture, printing and the taxi business, among others. In addition to its now 46.7 percent stake in AS Tallink Grupp, Infortar also owns a 100 percent stake in AS Eesti Gaas.
A total of 103 companies belong to the group, including 48 subsidiaries, five affiliated companies and 50 subsidiaries of affiliated companies. Excluding affiliates, Infortar currently employs 1,325 people.
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Editor: Aili Vahtla