Sorainen has advised the Fortum Corporation on the acquisition by subsidiary Fortum Heat Estonia of the remaining 40% in the district heating and cooling group Fortum Tartu from Giga.
The transaction remains subject to the Estonian Competition Authority approval.
The transaction gives Fortum 100% ownership in Fortum Tartu. According to Sorainen, "with this step, Fortum is looking to increase the flexibility in potential future options for the Estonian district heating businesses.”
Sorainen’s team included Partner Toomas Prangli, Counsel Isabella Barbara Aavik, and Senior Associates Piibe Lehtsaar and Kaspar Endrikson.
Sorainen did not reply to our inquiry on the matter.