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Aktsiaselts Infortar subsidiary AS Elenger Grupp received an approval from Competition Authority to acquire a shareholding in EWE Polska

Written by Customer Service on . Posted in Public Companies.

AS Elenger Grupp (Elenger Grupp), a wholly owned subsidiary of Aktsiaselts Infortar (Infortar) and the German energy group EWE AG have entered into an agreement on the 31st of October 2024, under which EWE AG will sell 100% of the shares of its wholly owned subsidiary EWE Polska sp. z o.o. (EWE Polska) which operates in Poland. EWE Polska has two wholly owned subsidiaries, EWE Energia sp. z o.o. and EWE Przesył sp. z o.o. .

Polish Competition Authority (Polish: Urząd Ochrony Konkurencji i Konsumentów) has granted a merger permit to complete the transaction and after fulfilment other preconditions, today Elenger Grupp acquired a 100% shareholding in EWE Polska.

The main terms of the transaction for the acquisition of 100% of EWE Polska shares by Elenger Grupp, including the purchase price, are set out in the stock exchange release by Infortar on November 1, 2024. 

After the acquisition, the new brand name of EWE Polska Sp. z o.o. will be Elenger Polska Sp. z o.o. (Elenger Polska). Additionally, two subsidiaries will undergo rebranding: EWE Energia Sp. z o.o. will be renamed Elenger Dystrybucja Sp. z o.o., and EWE Przesył Sp. z o.o. will become Elenger Serwis Sp. z o.o. These new business nameswill take effect upon registration in the Business Register.

A six-member Supervisory Board has been established to oversee the management of Elenger Polska. The Supervisory Board members are Andres Trink, Margus Kaasik, Vaiko Tammeväli, Priit Tamme, Dāvis Skulte, and Marius Kairys. Andres Trink has been appointed as Chairman of the Supervisory Board. The Management Board will continue in its current composition: Krzysztof Noga remains as Chairman of the Management Board, and Agnieszka Bielewicz continues as a Member of the Management Board. The short description of the previous professional experience of the Supervisory and Management Board members and the amount of shares in Infortar are attached to this notice.

Chairman of the Management Board of Elenger Grupp Margus Kaasik: “Elenger continues to expand. We consider the Polish market important and aim to offer customers the best distribution and energy sales services. Our core product and competence is natural gas – long-term experience in the field of liquefied natural gas (LNG) and a focus on selling natural gas of Western origin have earned us the trust of our customers. The energy portfolio must be diversified and varied; we see the role of gas today and in the future as a partner to renewable energy,” said Margus Kaasik, Chairman of the Management Board of Elenger Group.

Chairman of the Supervisory Board of Elenger Polska Andres Trink: ” Infortar’s and Elenger’s rapid development is impressive and inspiring. The addition of EWE’s Polish businesses is a crucial cornerstone for continued growth. Following the change of ownership, it is essential to establish good cooperation with other units of the group and maintain a focus on customer service, as well as expanding the customer base and partnerships. I am pleased that, together with the company’s strong team, I can contribute to realizing Elenger’s ambitions in Central Europe.”

The contemplated transaction is not a transaction between related parties. The members of the Supervisory Board and the Management Board of Aktsiaselts Infortar have no personal interest in the transaction in any other way.

Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 116,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, taxi business and other areas. A total of 105 companies belong to the Infortar group: 96 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,108 people.

Additional information:

Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: kadri.laanvee@infortar.ee
www.infortar.ee/en/investor

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