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COBALT advised Alexela Energia on receiving merger clearance for the purchase of Kiviõli Keemiatööstuse Varad

2014-04-09

COBALT advised Alexela Energia on receiving merger clearance from the Estonian Competition Authority for transaction, which enables Alexela Energia to become the sole shareholder of Kiviõli Keemiatööstuse Varad (Kiviõli Oil Shale Processing and Chemicals Plant). In 2012 Alexela Energia acquired 50% shareholding in Kiviõli Keemiatööstuse Varad and COBALT advised Alexela Energia during that transaction as well.

Alexela Energia’s managing director Marti Hääl gave the following comment regarding the current purchase: „Our strategy is to invest 55 million and create 100 jobs there within the upcoming 5 years.“ He added that the purchase is part of a strategy and everything has gone according to plan.

Alexela Energia is a holding company in the Alexela group energy business, which also includes motor fuel retailer Alexela Oil, oil products logistics company Alexela Logistics, LNG gas terminal developer Balti Gaas, fuel trader Energia Nord, LPG company Reola Gaas, electricity seller Elektrimüügi AS and waste management company Eesti Keskkonnateenused. In addition, Alexela Energia produces and sells shale oil products, heat and electricity through Kiviõli Keemiatööstuse Varad and its subsidiaries.

The project legal team included partner Peeter Kutman, senior associate Kristel Raidla-Talur and associate Greete-Kristiine Kuru.