Ellex Raidla has advised Estonia's Elektrilevi on its acquisition of the Imatra Elekter energy services provider from Imatran Seudun Sahko. Finland's LLH Law advised the sellers on the deal.
The transaction remains subject to clearance by the Estonian Competition Authority.
“The transaction came from an initiative of the Finnish energy group Imatran Seudun Sahko, which wanted to [exit from the] Estonian business and leave it in professional hands," commented Mihkel Harm, chairman of the management board of Elektrilevi. "As this coincided with our wish to expand the distribution network business, we reached an agreement."
Ellex Raidla’s team included Partners Martin Kaerdi and Martin Maesalu and Counsel Triin Frosch.