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SORAINEN Advises Gasum on Sale of Estonian Operations to Alexela Energia

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SORAINEN Estonia has advised Gasum Energiapalvelut in selling its Estonian business Gasum Eesti to Alexela Energia, part of the Alexela Group. According to Gasum Vice President Jarko Alanko, “this arrangement supports Gasum’s strategy of focusing on the development of the gas market in Finland and the Nordic countries.”  

Gasum Eesti (previously called Gaasienergia) is a subsidiary of Gasum Energiapalvelut. Gasum Eesti sells and distributes natural gas to small and medium-sized enterprises and residential customers in the areas of Rapla and Tabasalu. The company owns and maintains a 62 km gas distribution network. Revenue of Gasum Eesti in 2013 was around EUR 2 million. 

The transaction is expected to be completed by September or October 2014, when approval by the Estonian competition authority is provided. 

SORAINEN advised Gasum in all phases of the transaction, including preparation for auction, collecting documentation, and drafting and negotiating the sales contract. The SORAINEN team included Partner Toomas Prangli, Specialist Counsel Kadri Kallas, Associate Kaspar Endrikson, and Legal Assistant Triin Tigane. Gasum’s financial advisor for the transaction was Porta Finance. 

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