Estonia’s Eesti Energia closes $332 mln Nelja Energia acquisition

11/08/2018 2:12:00 PM (GMT)

Estonian energy company Eesti Energia AS has wrapped up the takeover of renewable energy producer Nelja Energia AS.

In May, Eesti Energia’s fully-owned subsidiary Enefit Green AS agreed to acquire Nelja Energia for 289 million euros ($332 million) plus the assumption of $232.9 million in net debt as at end of 2017.

Eesti Energia confirmed in a statement that Enefit Green has paid the purchase consideration to the sellers, including Vardar Eurus AS, which held a 77 percent stake, and a number of Estonia-based minority investors.

Enefit Green is now the sole owner of the Tallinn-based firm.

Eesti Energia AS

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