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TSO Elering signs merger with subsidiaries
BC, Tallinn, 16.12.2015.
Print version
Print versionThe transmission system operator (TSO) Elering AS on Wednesday signed a merger agreement with the subsidiary AS Vorguteenus Valdus and its holding Elering Gaas AS, thereby becoming the joint electricity and gas system operator in Estonia, informs LETA/BNS.
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The CEO of Elering, Taavi Veskimagi, said day-to-day management and business operations of the electricity and gas transmission networks will be brought together in Elering already from Jan. 1. On the same date Elering will take over all employees of Elering Gaas, who will continue performing their duties operating the gas transmission system.
The consolidation was preceded by a takeover of 0.86% of the shares of Vorguteenus Valdus by Elering on Dec. 11, after which all shares in Vorguteenus Valdus belong to Elering.
As part of preparations for the creation of a joint electricity and gas transmission system operator, Elering drew up a new strategy that sets out the framework for developing both fields.
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