Acquistion of the Tallinn Power Station Ltd

Triniti

Our M&A team advised Mr Kristjan Rahu and his company Horn Invest OÜ, in connection with the acquisition of 85 % shareholding in OÜ Tallinna Elektrijaam (Tallinn Power Station Ltd). The total value of the deal was 90 MEUR and it was financed by Swedbank and SEB Eesti. The deal is one of the largest transactions in Estonia in 2011 and one of the largest MBO-type transactions in the Estonian M&A history.

Triniti Estonian team assisted the purchaser in negotiations with the sellers  – Dalkia International S.A. and AS Tallinna Küte and in negotations with the banks in connection with the syndicated loan agreement financing the transaction and in relation to the securitization matters. Our team was lead by attorney Ergo Blumfeldt, with assistance from Liina-Maarja Uuemõis and Mikk Põld.

Tallinna Elektrijaam OÜ owns and operates a 25 MWe / 49 MWth biomass cogeneration plant in Väo, Tallinn fueled with wood-chip and peat. The planned electricity production capacity of the plant is up to 180 GWh/year and heat production capacity up to 500 GWh/year.