OREANDA-NEWS. September 08, 2014. SORAINEN Estonia advised Finnish gas distribution network company Gasum Energiapalvelut in selling its Estonian business Gasum Eesti to Alexela Energia, part of Alexela Group.

“This arrangement supports Gasum’s strategy of focusing on the development of the gas market in Finland and the Nordic countries,” says Jarko Alanko, Vice President, Energy Services, from Gasum. “Regardless of the change in ownership, the local gas supply will continue without disruptions,” confirms Marti Haal, head of Alexela Energia.

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

The transaction is expected to be completed by September or October 2014, when all preconditions of the transactions, including approval by the Estonian competition authority, are provided. SORAINEN advised Gasum in all phases of the transaction, including preparation for auction, collecting the data room documentation and in the sales contract drafting and negotiations.

The SORAINEN team included partner Toomas Prangli, specialist counsel Kadri Kallas, associate Kaspar Endrikson and legal assistant Triin Tigane. Gasum Energiapalvelut’s financial advisor for the transaction was Porta Finance.