Eversheds Sutherland Bitans has assisted BaltCap Infrastructure Fund in its EUR 9.45 million acquisition of shares in Latvian biogas businesses SIA AD Biogazes Stacija and SIA Aizkalnu Tehnika. Sorainen reportedly represented SIA Augstkalnu Druvas, the seller of the shares.
BaltCap obtained a 75% stake in SIA Anaerobic Holding, a joint-venture holding company that was incorporated by SIA Resse, which retains the remaining 25%. Subsequently, SIA Anaerobic purchased SIA RZS Energo, SIA AD Biogazes Stacija, and SIA Agro Lecava, which own biogas plants working a the total power of 4.9 MW, as well as SIA BGGS Serviss and SIA Aizkalnu Tehnika, which provide the plants with the necessary raw materials.
Sorainen did not reply to our inquiry about the deal.