OÜ Utilitas entered into a sale and purchase agreement to acquire district heating operations of Paide and Valka of Enefit Green for a transaction valued at ?15.8 million on November 28, 2023. Nothing will change for the employees, customers, and partners of Paide and Valka district heating companies before the transaction officially takes effect. After the transfer of assets, the companies will continue their current activities as part of the Utilitas group.

All services will continue to be provided and all employees of the companies will be transferred to Utilitas. The completion of the transaction is subject to approval from the Estonian and Latvian competition authorities. AS LHV Pank acted as financial advisor, KPMG Baltics OÜ acted as financial due diligence provider, Tark Grunte Sutkiene acted as legal advisor to Enefit Green.

Superia Corporate Finance acted as financial advisor, TRINITI acted as legal advisor to Utilitas.