Estonia: Competition Authority okays Utilitas takeover of Tallinna Soojus

The Estonian Competition Authority (Konkurentsiamet) has approved a takeover of Tallinn’s municipal company, Tallinna Soojus, by private energy group Utilitas, ERR reports. Following the takeover, Tallinna Soojus and Utilitas will establish a new joint venture, Utilitas Tallinna Soojus, which will become the new parent company of Tallinna Soojus. Utilitas will own 66.66% and Tallinn municipality 33.34% of the joint venture’s shares. Utilitas has managed Tallinn’s district heating network since 2001 under a 30-year lease.