Andmed seisuga: 27.11.2024 15:01 (GMT+2)

Eesti Ühispank: Acquisition of holding in AS Viru Energia

20.07.1999, Eesti Ühispank, TLN
EESTI ÜHISPANK
ANNOUNCEMENT
20.07.1999

FORTUM AND ÜHISPANK WILL ACQUIRE 100% OF AS VIRU ENERGIA

Tomorrow, on July 21, the parties will sign an agreement by which
the
Finnish energy group Fortum will obtain 70 per cent of AS
Viru
Energia from AS Viru Keemia Grupp. Ühispank will acquire
the
remaining 30 per cent.

Viru Energia owns the gas-based power station in Kohtla-Järve,
which
produces electricity and heat. For fuel, the power station
uses
generator gas produced as a result of thermal treatment of oil
shale
(in the amount of approximately 50 per cent) and natural gas (in
the
remaining amount).

Viru Energia owns the distribution systems of electricity and
heat,
and the enterprise sells electricity bought from other sources
as
well.

The present acquisition cannot be treated as a deal with a
person
connected to an issuer, and the members of the supervisory council
or
management have no personal interests in the deal.

The aim of the bank's participation is to continue co-operation
with
Fortum. In November 1998 also, the corporate finance division
of
Ühispank acted as the advisor and partner to Fortum in
the
privatisation of AS Läänemaa Elektrivork located in Haapsalu.

Additional information:

Mr. Margus Kangro Mr. Andres Taukar
Director of corporate finance division Director
Eesti Ühispank IVO Energia AS
Tel: +372 6 656 810 Tel: +372 6 277 277

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