Cobalt has advised VKG on the sale of the VKG Elektrivorgud electricity distribution company in Estonia to Baltcap. TGS Baltic advised BaltCap.
VKG Elektrivorgud is a company that sells electrical power and network services. The company’s service area includes Narva, Narva-Joesuu, and Sillamae. The annual electricity distribution volume of VKG Elektrivorgud in 2022 was approximately 250,000 megawatt-hours. The network comprises 951 kilometers of power lines and 372 low, medium, and high-voltage substations.
According to Baltcap, VKG Elektrivorgud is the first infrastructure investment in Estonia of their new EUR 200-million infrastructure fund (BInF II). "Baltcap's investments aim to develop – in the Baltic states and Poland – renewable energy and public-private partnership transport and infrastructure projects with a high social impact," Cobalt reported.
BaltCap is a private and venture capital fund operating in the Baltics covering buyouts, growth, venture, and infrastructure investments. BaltCap has invested in over 100 companies across a wide range of industry sectors.
The Cobalt team included Partners Martin Simovart and Aivar Taro, Specialist Counsel Madis Reppo, Managing Associate Tonu Kolts, Senior Associate Siim Vahtrus, and Assistant Lawyer Ken Saksniit.
The TGS Baltic team was led by Partner Kadri Kallas and included Partners Helmut Pikmets, Triin Kaurov, and Peeter Viirsalu, Associate Partner Triinu Jarviste, Senior Associates Mirko Kikkamagi, Sergei Jegorov, Vitali Sipilov, Liisa Levandi, Siret Saks, and Merli Maesalu, Associate Marija Toomjoe, Lawyer Artur Piisang, and former Senior Associate Mari-Liis Orav, who has since left the firm.