Eesti Energia completes the acquisition of Imatra Elekter
On July 23, 2021 Eesti Energia AS’s fully owned subsidiary Elektrilevi OÜ as the buyer, and Imatra FNW OY, fully owned by Imatran Seudun Sähkö Oy, as the seller closed the transaction regarding the acquisition of 100% shares in Imatra Elekter AS, a distribution network company operating in Estonia. The energy services unit of Imatra Elekter AS has been sold separately before the closing to a third party because Elektrilevi OÜ as a distribution network company does not offer energy service solutions to retail customers. The prerequisite for the closing of the acquisition was clearance by the Estonian Competition Authority which has been recieved. Upon closing, Elektrilevi AS, a wholly owned subsidiary of Eesti Energia AS, has paid the purchase consideration of 28.9 million euros to the seller and has been registered as the sole shareholder of Imatra Elekter AS in the share register. The share purchase agreement relating to the transaction was signed in March 2021.