The subsidiaries of Aktsiaselts Infortar, Elenger Polska SP. Z O.O. and Elenger Dystrybucja SP. Z O.O. (Elenger Polska group) have signed a new EUR 60 million syndicated term loan facility agreement.
The new syndicated term loan facility will enable Elenger Polska group to make investments in gas networks. The syndicated financing is provided by mBank and Bank Pekao S.A.
“We continue to expand our international operations and strengthen our position in the Polish market, one of the fastest-growing economies in Europe. A year and a half ago, we acquired a natural gas sales and distribution company in Poland for EUR 112 million, and now, as the next step, we aim to further strengthen and expand our activities in Poland,” said Margus Kaasik, Chairman of the Management Board of Elenger Group.
“When acquiring Elenger Polska, we committed to scaling our business in terms of gas sales and distribution services, using the potential of the Polish gas market. The outcome of the past year confirms that we made good decisions. In addition to gas sales and distribution, we are now also exploring opportunities to invest in gas production, i.e. renewable energy, in Poland,” said Kaasik.
The transaction does not affect Aktsiaselts Infortar’s debt servicing capacity and does not have a material impact on the company’s economic activities.
Infortar operates in seven countries. the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.76% share in Tallink Grupp, a 100% share in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141.000 m2. In addition to the three main areas of activity Infortar also operates in agriculture, engineering, construction minerals, printing sector, services and other areas. A total of 107 companies belong to the Infortar group, including 3 affiliated companies and 2 subsidiaries of affiliated companies. Excluding affiliates Infortar employs 6288 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
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