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TALLINN - Eesti Energia AS, the state-owned Estonian energy company, has successfully increased its stake in Enefit Green AS to 97.2%, following a voluntary takeover bid. The bid, which commenced on April 8, 2025, concluded on May 12 with Eesti Energia agreeing to purchase approximately 20% of Enefit Green’s shares from its shareholders.
The acquisition price was set at EUR 3.40 per share, and the transaction will be finalized on May 16, 2025, with the payment and transfer of shares. Prior to the bid, Eesti Energia already held a 77.17% stake in the renewable energy subsidiary. The additional shares acquired through this offer will bring the company’s total ownership to just over 97%, surpassing the threshold that enables it to initiate a compulsory buyout of the remaining shares.
In accordance with the Securities Market Act and the Commercial Code, Eesti Energia will now proceed with the mandatory takeover of the remaining shares. The company will prepare a detailed report to justify the conditions and compensation for the transfer of shares from minority shareholders. This report, alongside an auditor’s report, will be presented at an upcoming shareholder meeting where a decision on the takeover and the delisting of Enefit Green from the Nasdaq Tallinn Stock Exchange will be made.
Shareholders of Enefit Green will be granted at least one month to review the takeover report and other relevant documents, including the company’s annual reports for the past three years, before the general meeting.
This strategic move consolidates Eesti Energia’s control over Enefit Green, which is a key player in the Baltic region’s renewable energy sector. The financial details of the transaction and the future implications for Enefit Green’s operations and market presence will be closely watched by investors and industry analysts.
The information reported here is based on a press release statement from Eesti Energia AS.
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