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Ellex Raidla Advises Enefit Green and NEFCO on Sale of Shares in 4E Biofond

Ellex Raidla Advises Enefit Green and NEFCO on Sale of Shares in 4E Biofond

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Ellex Raidla has advised Enefit Green and Nordic Environment Finance Corporation on the sale of their shareholdings in Vinni and Oisu biogas combined heat and power plants to Infortar.

The transaction involves a 100% sale of shares in 4E Biofond, a minority shareholder in Vinni Biogaas and Oisu Biogaas, owners and operators of the Vinni and Oisu biogas CHP plants. 

Enefit Green is a renewable energy company owned by the Estonian state-owned energy group Enefit. It produces electricity and heat from wind, water, solar, biomass, and municipal waste in Estonia, Latvia, Lithuania, and Poland, and owns a pellet factory in Latvia. 

NEFCO is an international financial institution established in 1990 by Denmark, Finland, Iceland, Norway, and Sweden, with the aim of having a positive impact on the climate and environment.

4E Biofond cooperates with Estonian farmers to convert waste into biogas for the production of heat and electricity. 

Infortar is a private investment group in Estonia with interest in shipping and transportation, hospitality, real estate, printing, trading, financial service industries, and energetics.

The Ellex Raidla team included Partner Martin Kaerdi and Counsel Triin Frosch.  

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COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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