Eesti Energia seeks OK from Competition Authority to buy Nelja Energia ({{contentCtrl.commentsTotal}})

Eesti Energia picked up the new loans despite its currently good liquidity, as without a sufficient buffer the company's ratings might take a dip. Source: Nelja Energia

Estonian state-owned energy group Eesti Energia submitted an application to the Estonian Competition Authority for the acquisition of renewable energy company Nelja Energia.

The Estonian Competition Authority received a merger notice on Friday, according to which Enefit Green AS is planning to acquire dominant influence over Nelja Energia AS. The interested parties have seven calendar days to provide their opinion and objections regarding the merger to the Competition Authority, it is written in the merger notice.

Enefit Green AS, a fully owned subsidiary of Eesti Energia, Vardar Eurus and minority shareholders signed an agreement on 29 May regarding all the shares in Nelja Energia, a renewable energy producer and developer in the Baltics.

The consideration payable for 100 percent of the shares of Nelja Energia amounts to €289 million.

In addition, the buyer assumes Nelja Energia's net debt, which amounted to €204 million as at the end of 2017.

Editor: Aili Vahtla

Source: BNS

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