Regarding the selection of a strategic partner of Amber Grid subsidiary gas exchange GET Baltic
AB Amber Grid, legal entity code: 303090867. Address: Laisvės pr. 10, LT-04215 Vilnius, Lithuania.
European Energy Exchange AG (EEX) was approved as the winner of the international public tender aimed at choosing a strategic partner of the gas exchange GET Baltic. In 2023 March 16 the Board of Amber Grid made a decision to approve the sale of 66% shares of the daughter company gas exchange GET Baltic to the buyer EEX for EUR 6.5 million. The price reflects the financial performance of GET Baltic in the year 2022 with a revenue of EUR 1.61 million and an EBITDA of EUR 0.93 million.
This decision of the Board will have to be approved by Amber Grid's general meeting of shareholders, which will take place in April 7, 2023.
The strategic partner who offered the highest price for GET Baltic shares met all the requirements of the public tender. The rest of the shares – 34% can later be sold via an option to the same partner, after he fulfills the investor obligations included in the contract, related to ensuring benefits for the market of the Baltic states and Finland.
1. Press release.
Laura Šebekienė, Head of Communications of Amber Grid,
Ph. +370 699 61 246, e-mail: email@example.com