{"id":17503,"date":"2021-02-04T12:06:00","date_gmt":"2021-02-04T12:06:00","guid":{"rendered":"http:\/\/triniti.eu\/insights\/triniti-advises-city-of-tallinn-and-utilitas-in-acquiring-majority-holding-in-as-tallinna-vesi\/"},"modified":"2026-04-15T13:39:39","modified_gmt":"2026-04-15T13:39:39","slug":"triniti-advises-city-of-tallinn-and-utilitas-in-acquiring-majority-holding-in-as-tallinna-vesi","status":"publish","type":"insights","link":"https:\/\/triniti.1kdigital.com\/lv\/insights\/triniti-advises-city-of-tallinn-and-utilitas-in-acquiring-majority-holding-in-as-tallinna-vesi\/","title":{"rendered":"TRINITI advises City of Tallinn and Utilitas in acquiring majority holding in AS Tallinna Vesi"},"content":{"rendered":"\n<strong>Today, February 3, 2021, the City of Tallinn, Utilitas, and United Utilities signed a share sale agreement by which the City of Tallinn and Utilitas acquire the 35.3% holding in AS Tallinna Vesi held by United Utilities. The transaction will make the City of Tallinn the majority shareholder in AS Tallinna Vesi with a 52.35% holding, while Utilitas will hold 17.6%.<\/strong><!--more-->\r\n\r\n<a href=\"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/02\/hydroslides-573773_1920.jpg\"><img decoding=\"async\" class=\"alignnone size-full wp-image-8522\" src=\"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/02\/hydroslides-573773_1920.jpg\" alt=\" width=\" height=\"1440\" \/><\/a>\r\n\r\nThe value of the transaction is 100.2 million euros.\r\n\r\nThe transaction will enter into force upon approval by Tallinn City Council, and to complete the transaction permission to concentrate must be obtained from the Republic of Estonia Competition Authority. Given that the above prerequisites are met, the acquisition of shares from United Utilities is forecast to be completed in March 2021 and, resulting from the change of the controlling holding, the City of Tallinn and Utilitas become obligated to file a joint takeover bid to the shareholders of AS Tallinna Vesi which will be organized after the actual acquisition of United Utilities (Tallinn) B.V.\u2019s holding and obtainment from the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon) of the approvals required to carry out the takeover bid. The takeover bid and the terms and conditions thereof will be announced separately once the Estonian Financial Supervision and Resolution Authority has given its relevant approvals.\r\n\r\nTRINITI\u2019s team consisting of\u00a0<span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"https:\/\/triniti.eu\/our-team\/ergo-blumfeldt\/\" target=\"_blank\" rel=\"noopener\">Ergo Blumfeldt<\/a><\/span>,\u00a0<span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"https:\/\/triniti.eu\/our-team\/ain-kalme\/\" target=\"_blank\" rel=\"noopener\">Ain Kalme<\/a><\/span>,\u00a0<span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"https:\/\/triniti.eu\/our-team\/sten-veidebaum\/\" target=\"_blank\" rel=\"noopener\">Sten Veidebaum<\/a><\/span>,\u00a0<span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"https:\/\/triniti.eu\/our-team\/mikk-pold\/\" target=\"_blank\" rel=\"noopener\">Mikk P\u00f5ld<\/a><\/span>, and\u00a0<span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"https:\/\/triniti.eu\/our-team\/martin-jarve\/\" target=\"_blank\" rel=\"noopener\">Martin J\u00e4rve<\/a><\/span> advised the City of Tallinn and Utilitas in negotiating the share sale agreement and continues to advise the said clients in the relevant concentration control proceedings as well as in preparing and implementing the obligatory post-transaction takeover bid.\r\n\r\n<strong><em>Utilitas<\/em><\/strong><em>\u00a0is Estonia\u2019s biggest district heating company and producer of renewable energy. The company administers 550 km of district heating pipeline and provides heat to 174,000 private households in eight Estonian cities and towns \u2013 Tallinn, Maardu, Keila, Rapla, Haapsalu, K\u00e4rdla, J\u00f5geva, and Valga. In 2020 Utilitas produced 1.7 TWh of thermal energy and 394 GWh of electricity. Utilitas\u2019 consolidated sales in 2020 amounted to 127 million euros and the company\u2019s assets total 386 million euros. Utilitas is owned by European Diversified Infrastructure Fund II (85%) whose assets are managed by First Sentier Investors, and by companies owned by O\u00dc Utilitas Management Board Members (15%).<\/em>\n","protected":false},"featured_media":5422,"template":"","person_countries":[306],"people_industries":[],"experience_practice_area":[316],"insight_category":[435],"class_list":["post-17503","insights","type-insights","status-publish","has-post-thumbnail","hentry","person_countries-igaunija","experience_practice_area-korporativa-parvaldiba-komerctiesibas-uznemumu-apvienosanas-un-parnemsana","insight_category-jaunumi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TRINITI advises City of Tallinn and Utilitas in acquiring majority holding in AS Tallinna Vesi - TRINITI - Pan-Baltic Law Firm<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"lv_LV\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TRINITI advises City of Tallinn and Utilitas in acquiring majority holding in AS Tallinna Vesi - TRINITI - Pan-Baltic Law Firm\" \/>\n<meta property=\"og:description\" content=\"Today, February 3, 2021, the City of Tallinn, Utilitas, and United Utilities signed a share sale agreement by which the City of Tallinn and Utilitas acquire the 35.3% holding in AS Tallinna Vesi held by United Utilities. 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