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Kogeneracija's Sale of Miesto Energija and Pramones Energija to Vilniaus Silumos Tinklai Now Closed

Kogeneracija's Sale of Miesto Energija and Pramones Energija to Vilniaus Silumos Tinklai Now Closed

Lithuania
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On April 4, 2024, Ellex Valiunas announced that Kogeneracija's full sale of Miesto Energija and Pramones Energija and a 4,34% stake in Klaipedos Energija to Vilniaus Silumos Tinklai (reported by CEE Legal Matters on December 1, 2023) had closed at the end of March for EUR 10.6 million.

Kogeneracija is part of the E Energija group. Miesto Energija manages the heat supply network in the Klaipeda Free Economic Zone. Pramones Energija produces heat and electricity in its biofuel cogeneration plant, supplying it to Klaipeda city.

According to Ellex, Vilniaus Silumos Tinklai is the largest centralized heating production company in Lithuania.

"It is estimated that following the transaction, the heat sold by VST will increase by 99 gigawatt-hours annually, and the company’s managed centralized heat network has expanded by 6.2 kilometers after taking over part of the network in Klaipeda FEZ," the firm reported.

As previously reported, Ellex advised Kogeneracija. TGS Baltic reportedly advised the buyer.

The Ellex team included Partner Ramunas Petravicius and Senior Associates Arvydas Gruseckas and Andrej Jemeljanov.