Warmeston OÜ signed a purchase and sale agreement to acquire Broceni Cogeneration Plant and Pellet Factory of Enefit Green AS (TLSE:EGR1T) for ?32 million on December 29, 2023. The value of the transaction on a cash- and debt-free basis. Following the transaction and asset transfer, the cogeneration plant, pellet factory, and employees will continue their existing activities within the Warmeston group. As of reporting date of March 4, 2024, Estonian and Latvian competition authorities approved he transaction. Swedbank Estonia provided financing for the transaction. AS LHV Pank acted as financial advisor to Enefit Green. Kpmg International Limited acted as due diligence advisor to Enefit Green. TGS Baltic acted as legal advisor to Enefit Green. Superia Corporate Finance acted as financial advisor to Warmeston. Aivar Taro and Gatis Flinters of Cobalt Legal acted as legal advisor to Warmeston.

Warmeston OÜcompleted the acquisition of Broceni Cogeneration Plant and Pellet Factory from Enefit Green AS (TLSE:EGR1T) on December 29, 2023.