EPSO-G, the management company of the Energy Transmission and Exchange Group, will directly own 100% of the shares in the Group. shares in the contracting company Tetas. This was approved at the end of last week by the shareholders of EPSO-G and its parent company Litgrid.
The aim of this change is to simplify and make more efficient the governance structure of a state-controlled group. This will allow both Litgrid and Tetas, which are now direct subsidiaries of EPSO-G, to concentrate on their core business.
“This will allow Litgrid to focus on the implementation of synchronisation projects with the continental European grids, which are important for the country and all three Baltic countries. It will also create the conditions to better assess the efficiency of each of the Group’s companies and optimise their operations, thus increasing their value,” says Rolandas Zukas, CEO of EPSO-G.
As before, Tetas will actively provide power grid design, construction and maintenance services to domestic and foreign energy market players.
The deal between the two EPSO-G Group companies is worth €3.15 million. euros. It is based on an independent valuation of the property carried out by ERNST & YOUNG BALTIC.
EPSO-G’s Audit Committee has issued an opinion that the transaction is in line with market conditions and is fair and in the interests of shareholders who are not party to the transaction.
https://www.vz.lt/pramone/energetika/2019/11/29/epso-g-uz-315-mln-eur-pereme-teta
