Ellex has advised on the privatization of Operail’s business operations via a sale of its business operations along with its subsidiary Operail Repairs for EUR 19 million to Tiigi Keskus, an Estonian company that won the sale auction. Sirel & Partners advised Tiigi Keskus.
Operail is a state-owned company administered by the Estonian Ministry of Climate. According to Ellex, it specializes in freight transport on Estonian railways and in the maintenance and repair of rolling stock. Until early 2023, the company was also involved in wagon rental and freight transport in Finland, but its owner opted to divest these non-strategic business lines. In February 2024, the government decided to further privatize Operail’s remaining business lines, culminating in this transaction.
In 2019, Ellex advised Operail on entering the Finnish market (as reported by CEE Legal Matters on October 24, 2019).
The Ellex team included Partners Sven Papp and Martin Maesalu, Counsels Gerda Liik, Jaanus Ikla, and Mari Must, Senior Associates Hanna Pahk, Merlin Liis-Toomela, Kevin Gerretz, and Denis Tsasovskih, Associate Alan Paas, and Lawyers Miikael Tuus, Karl Rudolf Org, and Karoline Poska.
The Sirel & Partners team included Partners Juri Sirel and Sandra Toots and Associate Reelika Rohi.
