EDIF II closes purchase of 85% stakes in OÜ Utilitas
The fund managed by First Investment, European Diversified Infrastructure Fund II (EDIF II), has closed the purchase of an 85% stakes in Estonian energy company OÜ Utilitas.
The company generates thermal energy and electricity and provides district heating services, by distributing the thermal energy to heat substations via the heat network. It also installs remote reading system to measure thermal energy consumption. The company’s clientele includes apartment buildings, private residences, schools, kindergartens, office buildings, public office buildings, sports halls, swimming pools, shopping centres, hotels, hospitals, and social care institutions.
The deal is the seventh successful investment of EDIF II. The management team and supervisory board of Utilitas will hold the remaining 15% share in the company.
Country updates
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November 28, 2018
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