Gasum Energiapalvelut Oy will sell its Estonian business Gasum Eesti AS to Alexela Energia AS, part of Alexela Group. This arrangement is part of Gasum's strategy to focus on the development of the gas market in Finland and the Nordic countries.

The transaction is expected to be completed by September or October 2014, provided approval by the Estonian competition authority.

“This arrangement supports Gasum’s strategy of focusing on the development of the gas market in Finland and the Nordic countries,” says Jarko Alanko, Vice President, Energy Services, from Gasum.

“Despite the change in ownership, the local distribution of gas will continue as usual without interruptions,” says Marti Hääl, CEO, from Alexela Energia.

Previously called Gaasienergia, Gasum Eesti AS is a subsidiary of Gasum Energiapalvelut Oy. Gasum Eesti sells and distributes natural gas to small and medium-sized enterprises and residential customers in Rapla and Tabasalu areas. The company owns and maintains a 62 km gas distribution network. Revenue of Gasum Eesti for 2013 was around €2 million, and the company has 4 employees.

About Alexela Energia

Alexela Energia is energy holding company of Alexela Group including fuel retailer Alexela Oil, Paldiski LNG terminal developer Balti Gaas, fuel wholesaler Energia Nord, oil products producer Kiviõli Keemiatööstus, liquefied and natural gas company Reola Gaas ja electricity seller Elektrimüügi AS. The companies that are part of Alexela Energia have a consolidated turnover of over 214 million euro and more than 1,000 employees all over Estonia.

About Gasum Eesti AS

Gasum Eesti AS is a subsidiary of the Gasum Group. The company sells natural gas to small and medium-sized enterprises and residential customers in Rapla and Tabasalu regions of Estonia. The company owns and maintains a 62 km gas distribution network in Estonia. Gasum Eesti AS formerly operated under the name Gaasienergia. The company’s revenue totaled around €2 million in 2013. Gasum Eesti AS has 4 employees.