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Closing: Eesti Gaas Acquisition of Gaso from Latvijas Gaze Now Closed

Closing: Eesti Gaas Acquisition of Gaso from Latvijas Gaze Now Closed

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On August 2, 2023, Ellex announced that Eesti Gaas’s acquisition of Gaso from Latvijas Gaze (reported by CEE Legal Matters on April 28, 2023) had closed in July 2023.

According to Ellex, “on July 17, 2023, the closing of the transaction between JSC Latvijas Gaze and JSC Eesti Gaas took place, in which both transaction partners performed all actions so that Eesti Gaas acquired all the shares of the natural gas distribution system operator JSC Gaso and became its the sole shareholder.”

As previously reported, Ellex advised Eesti Gaas on the EUR 120 million acquisition of Gaso, while KPMG Law advised seller Latvijas Gaze.

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.