Regarding the selection of a strategic partner for the gas e...| MENAFN.COM

Wednesday, 18 May 2022 06:23 GMT

Regarding the selection of a strategic partner for the gas exchange GET Baltic, a subsidiary of Amber Grid


(MENAFN- GlobeNewsWire - Nasdaq) English Lithuanian

AB Amber Grid, legal entity code: 303090867. Address: Laisvės pr. 10, LT-04215 Vilnius, Lithuania.

The Board of Amber Grid and the Board of the holding company EPSO-G decided to announce the selection of a strategic partner for the subsidiary gas exchange GET Baltic. Strategic partner would be offered to acquire a stake in the Company. A public tender will be held to select the most experienced strategic partner which is expected to offer gas market participants a modern, advanced solutions-based gas trading platform that includes both short-term and long-term products and clearing services in line with the best market practices.

An international tender will be held to ensure competition between participants. Its documents will be published on 1 February 2022 on the website of Amber Grid. It is planned that a strategic partner will be selected this year.

The participant who meets the qualification requirements and offers the highest price for GET Baltic shares will be able to acquire a stake of 66% in GET Baltic. The remaining part of the shares accounting for 34% would subsequently be sold as an option to the same investor, once it discharges the obligations under the sale-purchase agreement related to ensuring benefits for the regional market.

Attached:
1. Press release.


More information:
Laura Šebekienė, Head of Communications of Amber Grid,
+370 699 61 246,

Attachment

  • With the connecting to the EU gas market a search for strategic partner of GET Baltic will be held



Attachments With the connecting to the EU gas market a search for strategic partner of GET Baltic will be held...

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