Ellex Valiunas has advised E Energija group company Kogeneracija on the sale of 100% of shares in Miesto Energija and Pramones Energija and a 4,34% stake in Klaipedos Energija to Vilniaus Silumos Tinklai. TGS Baltic reportedly advised the buyer.
Closing is expected in the first half of 2024, pending regulatory approval.
The transaction was part of Vilniaus Silumos Tinklai's long-term strategy of expanding in Klaipeda. According to Ellex, Vilniaus Silumos Tinklai is the largest Lithuanian heat and hot water supply company, serving more than 210,000 households and business entities in the capital.
The annual consolidated income of Pramones Energija and Miesto Energija is about EUR 5.5 million and the share of renewable and waste heat energy sources in their fuel structure is 100%, the firm reported.
The Ellex Valiunas team included Partner Ramunas Petravicius, Competition Expert Simona Liuimiene, and Associate Andrej Jemeljanov.