News

The largest district heating company Utilitas sold to First State Investments

Superia acted as sole financial adviser to selling shareholders in the sale of 85% shareholding in Utilitas to European Diversified Infrastructure Fund II, managed by First State Investments. Utilitas is the largest district heating company and one of the largest renewable power producers in Estonia. The Company operates 521 km of district heating networks and supplies heat to approximately 166,000 households in eight Estonian cities, including in Tallinn, the capital city. Utilitas had consolidated sales revenue of €117m and total assets of €301m in 2017.

The transaction represents the first regulated utility sector investment in the Estonia by a major international infrastructure fund.
 

Formal press release

Latest news

Sale of Bauhub to Admicom
Superia named the Baltic Financial Adviser of the Year at the Mergermarket M&A Awards 2024
airBaltic successfully completes €40m tap issue related to its €340m outstanding high-yield bond
Sale of MEDIHUB Group to REVÙ CLINIC