![]() Eesti Energia’s financial advisor for the transaction was Porta Finance. The Sorainen team included Partner Toomas Prangli, Senior Associate Paul Kunnap, and Associate Sandra Metsamart. Leonhard Weiss is a German construction company specializing in civil engineering, road, and railway construction, and building construction. Sorainen advised Eesti Energia in all phases of the transaction, including legal due diligence of operations, assistance in drafting transaction documents and in negotiating the terms of the transaction and support on other transaction issues. The completion of the transaction is subject to conditions, including approval by the Estonian Competition Authority. We managed to find such a new owner, which is why we hope that the company’s future development prospects are good.”Īlexander Schneider, Chairman of the Management Board of Leonhard Weiss Baltic Holding, added that Vorguehitus, which will be renamed "Leonhard Weiss Energy", can use Leonhard Weiss’ existing network in the Baltic and Scandinavian countries to develop and expand its business further. The family-owned construction company also provides state-of-the-art equipment to its employees to ensure the optimal technical capabilities of its workforce. Average employees count: 1: 1: Source: SRS. ![]() “Vorguehitus, on the other hand, needs an owner whose main business is design and construction of networks. PS 'Empower un Leonhard Weiss' Registration number, date: 40203329022, VAT number: LV40203329022 from Europe VAT register: Register, date. No account Register, as the ordered products and invoices are kept under 'My account' and the prices are up to 20 more favourable when using the prepayment credit. “It makes sense for Eesti Energia to divest non-core operations as we are focusing more on the development of the oil shale industry,” Sandor Liive, Chairman of the Management Board of Eesti Energia, explained. Sorainen states that "the transaction is in line with Eesti Energia’s strategy to focus on the oil shale industry, and the group will earn EUR 7 million from sale of Vorguehitus shares." Leonhard Weiss Baltic Holding is a subsidiary of the Leonhard Weiss German engineering group, which has been operating in Estonia in the field of railroad construction and maintenance since 2011. ![]() The Estonian office of Sorainen has advised Eesti Energia on its agreement to sell Eesti Energia Vorguehitus - its network construction subsidiary - to Leonhard Weiss Baltic Holding.Įesti Energia Vorguehitus provides both turn-key solutions as well as single projects for the construction and maintenance of electrical and communication networks, from design to construction and maintenance services.
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