Change in the administration of state`s holding in Tallinna Sadam

In connection with the reorganization of the work of the ministries, on 06.07.2023, the Estonian Government approved the order "Designation of administrators of state assets and ceding of state assets", in which, among other things, the Ministry of Climate is appointed as the administrator of shares belonging to the state of AS Tallinna Sadam (hereinafter: Tallinna Sadam) and the executor of shareholder`s rights.
A corresponding change will be made in the securities register within 30 days. Until now, the Ministry of Economic Affairs and Communications was the representative of the state in Tallinna Sadam. The amendment does not entail the obligation to make a takeover bid, as the majority shareholding in Tallinna Sadam still belongs to the Republic of Estonia.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which serves annually 10 million passengers and 20 million tons of cargo in average. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services.

Additional information:

Andrus Ait
Chief Financial Officer
Tel. +372 526 0735
a.ait@ts.ee