Tallinn bidders expected to pay over the odds

Shares in Tallinn Water are expected to sell at a premium slightly above the 580 million kroon ($35 million) minimum price. Evaluation of bids will be based on a purchase and subscription price and projected changes in the price of services.

Indications are that pre-qualified bidders strongly favour the flexibility of the shareholding structure and the relatively simple share sale transaction. They are also likely to be tempted by the pragmatic approach to asset renewal taken by the city of Tallinn. The first five-year investment is largely in above ground assets and there is a good balance of risk, as the ...

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