Sorainen Estonia advised the shareholders of Samat bus company on the sale of a majority shareholding to competitor Hansabuss. Founded by Estonian investors in 1991 and employing over 80 people, Samat services bus lines mainly in Northern Estonia and also offers other services related to bus operation. Samat’s forecast turnover for 2016 is approx EUR 3 million and the company operates 51 buses. As a result of the transaction, Hansabuss group turnover will increase to approx EUR 19 million, the number of employees to over 500, and rolling stock to over 320 vehicles.
Samat’s former major owner and management board member Mart Prikk was positive in his comments on the transaction: “Hansabuss is a highly professional, financially sound bus operator with long experience, good prospects, and known for its high quality. I believe that passengers will be the main winners from the transaction.” Mr Prikk will continue as a supervisory board member of Samat and will remain actively involved in the company’s business.
Neeme Tammis, a management board member with buyer Hansabuss affirmed that Samat is a successful bus operator which has established a secure and stable position for itself in the Estonian bus operators’ market, while Hansabuss aims to foster Samat’s development even further. As a result of the transaction, Hansabuss group turnover will increase to approx EUR 19 million, the number of employees to over 500, and rolling stock to over 320 vehicles.
The Sorainen team consisting of partner Toomas Prangli and associate Kai Vainola advised the seller in the transaction negotiations.