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Litgrid AB signed agreements with Energinet and Fingrid regarding the acquisition of shares in TSO Holding

LITGRID
LITGRID

Lithuanian electricity transmission operator Litgrid AB (company code 302564383, registered office address Karlo Gustavo Emilio Manerheimo str. 8, Vilnius) on 28th October signed the contracts for the share acquisition with the Danish and Finnish energy transmission system operators Energinet and Fingrid for two 18.8 percent stakes of TSO Holding (total - 37.6%) for NOK 134 794 713.4 million (approximately EUR 13 million).

Completion of the share acquisition transactions will take place and the ownership of the purchased shares will be transferred to LITGRID AB within 5 working days from the signing of the contracts upon payment of the purchase price. Upon the completion of these transactions, the stake in TSO Holding managed by Litgrid AB will increase to 39.6 percent.

In September, Litgrid AB received an order from its parent company EPSO-G to purchase these shares. UAB EPSO-G has also decided to purchase all newly acquired shares both with the already owned shares of TSO Holding from Litgrid AB for approximately EUR 13 million later this year.

TSO Holding is a minority shareholder in Nord Pool Holding, a company based in Norway, with a 34% stake in Nord Pool Holding. Nord Pool Holding owns 100 % of the Nord Pool electricity exchange. Nord Pool provides electricity exchange services in Central and Western Europe, the United Kingdom, the Nordic and Baltic countries. The exchange trades electricity and provides clearing and settlement services. The remaining 66 % of Nord Pool Holding is held by Euronext Nordics Holding, a European stock exchange group.

The individual authorized by Litgrid AB to provide additional information:

Jurga Eivaitė
Communications project manager
phone: +370 613 19977
e-mail: jurga.eivaite@litgrid.eu