AS Infortar aquires majority sharehold in AS Eesti Gaas

AS Eesti Gaas is announcing that one of Estonia’s largest investment companies AS Infortar has aquired a majority sharehold in the company. Infotar is the majority owner in the Baltic sea’s leading ship company Tallink and has also invested in real estate, hospitality, the printing industry and public transport. We welcome their entry into the rapdily changing energy sector and their wish to significantly contribute to the development of Eesti Gaas.

The aim for Infortar is to bring more competition to the energy market with the help of local capital, raise the quality of customer service and to offer new products. Their convincing background in developing businesses, in combination with the extensive experience of the employees of Eesti Gaas in the energy field, promises for the creation of new values for our customers. We wish to expand the use of natural gas – the most environmentally-friendly fuel – in both energy and transport, to develop competitive electrical products and support our customers’ business operations through effective integrated solutions.

AS Infortar has a majority sharehold in OÜ Trilini Energy, which entered into a contract with Fortum Heat and Gas OY to purchase a 51% sharehold in AS Eesti Gaas. Trilini Energy has made an offer of purchase to Gazprom, which holds 37% of shares in Eesti Gaas, and to Itera Latvija, which holds 10% of shares. Minority shareholders hold 1,57% of shares in Eesti Gaas.

AS Infortar is an investment company with a market value of 381 million euros, operating in shipping, real estate, hospitality, and the printing industry. In addition to holding 38% of shares in AS Tallink Group, AS Infortar also has approximately 65 000 m² of various hotel and SPA properties in Tallinn and over 330 000 m² of land in Tallinn and its vincinity in its investment portfolio. AS Infortar is the owner of the printshop AS Vaba Maa, and the developer of the future multifunctional shopping and entertainment center Tallink City.

AS Eesti Gaas is engaged in the sale of natural gas and electricity. The group consists of AS EG Ehitus, which is concered with the design and constuction of gas pipelines and facilities, and AS Gaasivõrgud, which provides a distributional service. The company owns five gas filling stations accross Estonia.

Eesti Gaas employs 205 individuals, the turnover of the Group last year amounted to 130 million euros according to unaudited data. AS Eesti Gaas sold 386 million m3 of natural gas in 2015, the Group has 1570 business clients and 41 160 private clients. Eesti Gaas also sells electricity to business and private clients, amounting to 9,7 GWh last year.

To a continued pleasant cooperation!

Yours sincerely,

Raul Kotov
Member of the board

Sergey Zagrebaylov
Member of the board

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