UAB Ignitis Grupe completed the acquisition of the remaining unknown minority shares of Energijos Skirstymo Operatorius AB from shareholders for 39.5 million.
UAB Ignitis Grupe completed the acquisition of remaining 5.02% stake in Energijos Skirstymo Operatorius AB (NSEL:ESO1L) from shareholders for 39.5 million on April 22, 2020. UAB Ignitis informs that on April 22, 2020, the official tender offers has ended. UAB Ignitis plans to initiate the mandatory repurchase of shares of the subsidiaries and apply to the Supervision Service of the Bank of Lithuania with a request to coordinate the prices of mandatory share repurchase. UAB Ignitis plans to provide the same prices for required share buy-out as those which were paid during the tender offer. On May 18, 2020, the mandatory buyout of shares started and the shares will be sold until August 17, 2020. As of October 29, 2020, the Court of Appeal of Lithuania made a decision on lifting the temporary protection measures which were applied by Vilnius Regional Court and on resumption of suspended mandatory buy-out of shares of Energijos Skirstymo Operatorius. After the court satisfied the complaint, the process of mandatory buy-out of shares of ESO is resumed, during which all remaining shareholders of ESO must sell their shares to Ignitis grupe and will be settled on November 5, 2020. UAB Ignitis Grupe informed that mandatory buyout of shares of AB Energijos Skirstymo Operatorius was finished on November 3, 2020 and transaction was settled on November 5, 2020. Following mandatory buyout, the Company, after having made payments to the deposit account of shareholders who did not sell shares, until December 3, 2020 and will apply before the court for an order requiring the account managers to make respective entries in the securities accounts regarding the transfer of ownership of the shares to Ignitis Grup.