Cobalt Estonia has advised Alexela Kuumasinkitys Oy, a subsidiary of Alexela Group, on the acquisition of Finland's Helon Kuumasinkitys Oy. The value of the deal was not disclosed.
TGS Baltic has advised Estonian electricity and gas system operator Elering on agreements worth approximately EUR 60 million for the construction of the Paldiski compressor station, which will serve the Estonia-Finland Balticconnector gas link, and for the Puiatu compressor station, which will serve the Estonia-Latvia connection.
“The Estonian market faces a combination of challenges on how to boost the economy and attract business,” says Merit Lind, Partner at Deloitte Legal in Estonia. “However, some of the initiatives clash somewhat with anti-money laundering prevention policies,” she says, referring to the e-Residency program famously introduced in the country at the end of 2014.