Eesti Energia has announced plans for a voluntary takeover bid to purchase Enefit Green shares at €3.4 per share, 47% higher than the March 26, 2025 Nasdaq Baltic closing price and 27% higher than the average price over the last three months. The bid is based on market analysis and assessments by analysis houses.
The takeover bid will run from April 8 to May 12, 2025, with payment scheduled for May 16, 2025. More details are available on the website prospekt.enefit.com/en.
Eesti Energia aims to strengthen Estonia’s energy security by integrating Enefit Green, enhancing both renewable and dispatchable power generation capacity. The company believes that a unified energy group will help lower energy prices and boost profitability.
Eesti Energia’s management board has emphasized that repurchasing Enefit Green shares will create a more competitive energy group by combining electricity sales and production portfolios. This merger is expected to improve pricing, profitability, and investment capacity.
The takeover bid is subject to approval by the Estonian Financial Supervision and Resolution Authority (EFSA), and the terms may change. If successful, at least 90% of Enefit Green shares will be acquired, and the remaining shares will be purchased for monetary compensation.
Eesti Energia plans to finance the bid with its own funds. If the bid is successful, it will offer retail investors the chance to subscribe to bonds issued by Eesti Energia, with subscription starting in mid-May. The bond offering is also subject to EFSA approval.
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