Fortum to Sell Eesti Gaas Stake
- New Europe Investor
- February 23, 2016
Fortum, a Finnish energy group is to offload its majority stake of 51.4% of Estonia’s natural gas company, Eesti Gaas.
Trilini Energy, which is partially owned by Infortar, is to purchase the stake according to Ain Hanschmidt who is on the board of Trilini Energy.
The deal, which must be approved by the competition authorities in Estonia and Finland, is due to be concluded within the coming months. The agreement also states that the price will not be disclosed.
Gazprom own 37% of Eesti Gaas with the other major stake being held by Itera Latvija, a Russian based investment group. Fortum announced it was planning to sell its stake in mid 2014.
Infortar is one of the largest private investment groups in Estonia. They have interests in hospitality, real estate and among other financial service industries.