Porta Finance advises Gasum on sale of Estonian operations to Alexela Energia

Gasum Energiapalvelut Oy will sell its Estonian business Gasum Eesti AS to Alexela GasumEnergia AS, part of Alexela Group. This arrangement is part of Gasum’s strategy to focus on the development of the gas market in Finland and the Nordic countries.

The transaction is expected to be completed by September or October 2014, provided approval by the Estonian competition authority.

“This arrangement supports Gasum’s strategy of focusing on the development of the gas market in Finland and the Nordic countries,” says Jarko Alanko, Vice President, Energy Services, from Gasum.

“Despite the change in ownership, the local distribution of gas will continue as usual without interruptions,” says Marti Hääl, CEO, from Alexela Energia.

Previously called Gaasienergia, Gasum Eesti AS is a subsidiary of Gasum Energiapalvelut Oy. Gasum Eesti sells and distributes natural gas to small and medium-sized enterprises and residential customers in Rapla and Tabasalu areas. The company owns and maintains a 62 km gas distribution network. Revenue of Gasum Eesti for 2013 was around €2 million, and the company has 4 employees.

Gasum’s financial advisor for the transaction was Porta Finance and legal advisor Sorainen.

Further information:
Karl-Erik Kodu
Director, Porta Finance
Tel: +372 602 5015
karlerik.kodu@portafinance.com