Ellex has advised Eesti Gaas on its EUR 120 million acquisition of Gaso from Latvijas Gaze. KPMG Law advised the seller.
Closing is expected in 2023, pending regulatory approval.
According to Ellex, Latvijas Gaze will receive a base equity consideration amounting to EUR 120 million and interest payable for the time until completion.
Eesti Gaas operates in Latvia, Lithuania, Finland, and Poland, under the Elenger brand. In Estonia, Eesti Gaas operates the gas distribution network and supplies its customers with natural gas through pipelines, as well as supplying pressurized and liquefied natural gas.
Latvijas Gaze is a Latvian natural gas company, specializing in the import and sale of natural gas.
The Ellex team included Latvia-based Senior Partner Raimonds Slaidins, Associated Partner Maris Brizgo, Attorney-at-Law Iveta Ceple, and Lawyers Ineta Kanepe and Gabriela Fomina, as well as Estonia-based Partner Martin Kaerdi and Counsel Triin Frosch.
The KPMG Law team included Managing Partner Una Petrauska, Partner Ieva Tillere-Tilnere, and Attorney-at-Law Ugis Ludins.