We advised the German energy group Danpower on the acquisition of a majority stake in the Estonian district heating company SW Energia.
“Through this merger, our combined financial and development capabilities increase significantly, enabling us to realise our ambitious vision – to make carbon-neutral district heating the standard across Estonia,“ said Burkhard Vogel, CEO of Danpower Estonia, in a press release.
Danpower has long-standing and extensive experience in the heat supply and renewable energy sectors. The group has been active in Estonia since 2012, and the current expansion provides an opportunity to further strengthen its presence in the market and to become more familiar with SW Energia’s technology. The transaction also lays the foundation for accelerated growth by SW Energia and a more robust transition of Estonia’s district heating sector towards renewable energy.
Our services and client team
We advised Danpower throughout the entire transaction. Our work included drafting and filing the merger notification, and coordinating communications with the Estonian Competition Authority. We advised on, among other subjects, transaction, corporate and employment law matters. We conducted legal due diligence, supported the preparation and finalisation of the transaction documentation, advised on the negotiations and assisted with the completion of the transaction.
Our team was led by partner Paul Künnap and counsel Piret Lappert. They were supported by counsels Piibe Lehtsaar and Pirkko-Liis Harkmaa; and associates Joosep Kuusk, Karl Oskar Pungas, Birke Vahesaar, Meri-Ly Karjus-Mustafayev and Jürgen Adamson.
