Market announcement
AS TALLINNA VESI
LEI code
5493000M6TVS2X0KWC97
Size of the entity
Large group
Economic activities
Water Supply; Sewerage, Waste Management and Remediation Activities
Country of registered office
Estonia
General information
This announcement has been corrected.
Corrected version
CORRECTION: Contemplated changes in substantial shareholding
Categories
Notifications of major holdings
Unique data record identifier
8535
Submission date and time
03.02.2021 11:02:43
Content of announcement in Estonian
Title
Olulise osaluse kavandatavad muutused
Message
AKTSIASELTS TALLINNA VESI teavitab kavandatavatest muudatustest olulise
osalusega aktsionäride struktuuris.
3. veebruaril 2021, Tallinna Linn ja United Utilities (Tallinn) B.V. teavitasid
AKTSIASELTSI TALLINNA VESI, et Tallinna Linn, United Utilities (Tallinn) B.V.,
United Utilities PLC ja Osaühing Utilitas sõlmivad aktsiate müügilepingu, mille
kohaselt United Utilities (Tallinn) B.V. müüb kokku 7,060,870 AKTSIASELTSI
TALLINNA VESI A-aktsiat võrdsetes osades Tallinna Linnale ja Osaühingule
Utilitas hinnaga 14,20 eurot aktsia ("Tehing"). Tehingu tulemusel kuulub
Tallinna Linnale 10 469 565 AKTSIASELTSI TALLINNA VESI A-aktsiat ja 1 B-aktsia
(mis esindavad [52,35%] AKTSIASELTSI TALLINNA VESI aktsiakapitalist) ja
Osaühingule Utilitas kuulub 530 435 AKTSIASELTS TALLINNA VESI (mis esindavad
[17.6%] AKTSIASELTSI TALLINNA VESI aktsiakapitalist).
Aktsiate müügileping jõustub tervikuna alates hetkest, kui Tallinna
Linnavolikogu Tehingu heaks kiidab. Tehingu lõpuleviimise tingimuseks on ka
Eesti Konkurentsiametilt loa saamine. Tehingu lõpetamine toimub eeldatavasti
2021. aasta märtsis.
Pärast Finantsinspektsioonilt vastavate kooskõlastuste saamist teevad Tallinna
Linn ja Osaühingu ühise kohustusliku ülevõtmispakkumise AKTSIASELTSI TALLINNA
VESI vähemusaktsionäridele kuuluvate aktsiate osas. Ülevõtmispakkumise
tingimused avaldatakse pärast seda, kui Finantsinspektsioon on need
kooskõlastanud.
AS Tallinna Vesi juhatuse hinnangul ei oma müügilepingu sõlmimine ettevõtte
äritegevusele ega majandustulemustele otsest olulist mõju, kuna ettevõte jätkab
tavapärast majandustegevust ning muudatusi müügileping teenuse osutamisesse ei
too.
Ostja Utilitas on Eesti suurim kaugkütteettevõte ja taastuvenergia tootja.
Ettevõte haldab 550 km kaugküttetorustikku ning varustab soojusega 174 000
kodumajapidamist kaheksas Eesti linnas - Tallinnas, Maardus, Keilas, Raplas,
Haapsalus, Kärdlas, Jõgeval ja Valgas. Utilitas tootis 2020. aastal 1,7 TWh
soojus- ning 394 GWh elektrienergiat. Utilitase konsolideeritud müügitulu oli
2020. aastal 127 miljonit eurot ning varade maht 386 miljonit eurot. Ettevõtte
omanikeks on European Diversified Infrastructure Fund II (85%), mille varasid
juhib First Sentier Investors ja OÜ Utilitas juhtkonnaliikmete ettevõtted (15%).
Käesoleva teate seisuga omab ostja Tallinna Linn 6 939 130 Tallinna Vee aktsiat
ja ostja OÜ Utilitas ei oma Tallinna Vee aktsiaid.
AS Tallinna Vesi annab edaspidi täiendavat infot, selle saamisel.
Content of announcement in English
Title
Contemplated changes in substantial shareholding
Message
AKTSIASELTS TALLINNA VESI informs about the contemplated changes in the structure of shareholders with substantial shareholdings. On 3 February 2021, the City of Tallinn and United Utilities (Tallinn) B.V. informed AKTSIASELTS TALLINNA VESI that the City of Tallinn, United Utilities (Tallinn) B.V., United Utilities PLC and Osaühing Utilitas are entering into a share sale and purchase agreement whereby United Utilities (Tallinn) B.V. sells in total 7,060,870 A-shares in AKTSIASELTS TALLINNA VESI to the City of Tallinn and Osaühing Utilitas in equal parts at a price of 14.20 euros per share (the "Transaction"). As a result of the Transaction, the City of Tallinn will hold 10,469,565 A-shares in AKTSIASELTS TALLINNA VESI and 1 B-share (representing [52.35%] of the share capital of AKTSIASELTS TALLINNA VESI) and Osaühing Utilitas will hold 530,435 A-shares in AKTSIASELTS TALLINNA VESI (representing [17.6%] of the share capital of AKTSIASELTS TALLINNA VESI). The share sale and purchase agreement shall take effect in its entirety as of the approval of the Transaction by the Tallinn City Council. The completion of the Transaction is also subject to the receipt of the approval of the Estonian Competition Authority. The estimated completion of the Transaction shall take place in March 2021. Following the receipt of the necessary approvals from the Financial Supervision Authority, the City of Tallinn and Osaühing Utilitas will jointly undertake a mandatory tender offer in respect of shares held by minority shareholders of AKTSIASELTS TALLINNA VESI. Terms of the tender offer shall be announced once approved by the Financial Supervision Authority. According to the Management Board of AS Tallinna Vesi the conclusion of the share sale and purchase agreement does not have a material impact on the business activities nor the economic results of the Company as the Company will continue carrying out its usual business activites and the share sale and purchase agreement does not bring about the changes to the provision of its services. The buyer Utilitas is the largest district heating company and producer of renewable energy in Estonia. The company manages 550km of district heating pipelines and supplies heat to 174 000 households in eight Estonian cities - Tallinn, Maardu, Keila, Rapla, Haapsalu, Kärdla, Jõgeva and Valga. In 2020 Utilitas produced 1,7 TWh of heat and 394 GWh of electricity. Utilitas' consolidated sales revenue in 2020 was 127 million euros and the volume of assets was 386 million euros. The company is owned by the European Diversified Infrastructure Fund II (85%), the assets of which are managed by First Sentier Investors and the companies of OÜ Utilitas' board members (15%). As at the date of this release the buyer Tallinn City owns 6 939 130 shares of AS Tallinna Vesi and the buyer OÜ Utilitas does not own any AS Tallinna Vesi shares. AS Tallinna Vesi will give additional information, when available.