EWE Finalizes Sale of Polish Assets to Eesti Gaas in €120 Million Deal

EWE has completed the sale of its Polish subsidiary, EWE Polska, and associated companies EWE Przesyl and EWE Energia, to Eesti Gaas for a total of €120 million, pending regulatory approval. EWE Polska is recognized as Poland's second-largest privately-owned natural gas network operator. Eesti Gaas, operating under the Elenger brand, stands as the largest privately-owned energy firm in the Baltic region and Finland, providing natural gas and green energy to over 400,000 clients across the Baltic States, Finland, and Poland. The acquisition aligns with Eesti Gaas's strategic plans to extend its operations from the Baltic-Finnish area into Central and Western Europe. Legal advisory for the transaction was provided by Rymarz Zdort Maruta for EWE, while CMS and Ellex took charge of advising Eesti Gaas. This acquisition represents a key moment for Eesti Gaas to introduce its operational model into the significant Polish gas market, simultaneously enhancing shareholder value through stable revenue streams.