Infortar’s voluntary takeover offer to Tallink Group shareholders

Ellex in Estonia advised Aktsiaselts Infortar on the voluntary takover offer to all shareholders of Aktsiaselts Tallink Grupp. In the course of the voluntary takeover offer, the shareholders of Aktsiaselts Tallink Grupp decided to sell to Aktsiaselts Infortar a total of 21.71% shares of the ship company, making the total transaction value EUR 88 million.

The Chairman of the Management Board of Aktsiaselts Infortar Ain Hanschmidt said in the press release: “When the voluntary takeover offer was announced, we believed it would be attractive to those seeking to exit the region – our assumptions were accurate and proven correct. The majority of Tallink’s 30,000 shareholders chose to remain, indicating they share Infortar’s perspective.”

Aktsiaselts Infortar holds investments primarily in energy, maritime shipping and real estate sectors. Their portfolio includes well-known companies, such as Aktsiaselts Tallink Grupp, AS Eesti Gaas, AS Gaso, nearly 100,000 square meters of real estate and many other assets.

As a result of the takeover offer, Aktsiaselts Infortar acquired control over Aktsiaselts Tallink Grupp by increasing its shareholding in the latter to 68.47%.

“Tallink will remain listed on the stock exchange with a minority, similar to many other Estonian publicly traded companies. A strong investor community has developed in Estonia, and both Infortar and Tallink have greatly benefited from being public companies,” said Hanschmidt.

Infortar was advised by Ellex Partners Gerli Kivisoo, Martin Käerdi and Martin Mäesalu, Senior Associates Georg Kuusik and Kevin Gerretz, and Lawyer Miikael Tuus.