St1 becomes major shareholder in Scandinavian Biogas

Finnish energy firm St1 has acquired about 14 percent of shares in Sweden-based bio-LNG producer Scandinavian Biogas.

Scandinavian Biogas revealed this in a statement on Friday saying St1’s vision is to be the “leading producer and seller of CO2-aware energy”.

St1 is building a bio-LNG plant at the Boras Energi och Milja facility at Sobacken, near the city of Boras in Sweden.

“We welcome that an industrial player like St1 shows interest in Scandinavian Biogas and becomes a new major shareholder”, Matti Vikkula, CEO of Scandinavian Biogas, said in a statement.

This move comes at a time when Norway’s Aneo Renewables boosted its shareholding in Scandinavian Biogas and plans to buy the latter.

The board of Scandinavian Biogas recently urged its shareholders to reject the proposed takeover offer by Aneo.

Aneo, a joint venture of TronderEnergi and HItecVision established this year, now has 36.1 percent of the total number of shares and votes in Scandinavian Biogas Fuels International.

In accordance with Swedish takeover rules, the firm is obliged to make a mandatory tender offer for the remaining shares and the company made the move in November.

This offer values Scandinavian Biogas at 670 million Swedish crowns ($64 million), according to Aneo.

Also, the acceptance period of the offer started on November 28 and will expire on December 19, 2022.

- Advertisements -

Most Popular

Seapeak says working on charter and other opportunities for six LNG carriers

Stonepeak's Seapeak is pursuing various opportunities relating to six of its liquefied natural gas (LNG) carriers which are scheduled...

Deutsche ReGas: Mukran FSRU welcomes first LNG tanker

LNG terminal operator Deutsche ReGas has received the first LNG tanker at its FSRU-based LNG import facility in Germany’s...

VTTI, IKAV to take majority stake in Italy’s Adriatic LNG terminal

Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, joined forces with German asset manager IKAV to...

More News Like This

Biokraft says launches world’s largest biomethane liquefaction unit

Sweden-based bio-LNG producer Biokraft International, previously known as Scandinavian Biogas, has launched what it says is the world's largest...

Biokraft working on new bio-LNG plant in Sweden

Sweden-based bio-LNG producer Biokraft International, previously known as Scandinavian Biogas, has secured land for a new bio-LNG production...

Scandinavian Biogas becomes Biokraft

Sweden-based bio-LNG producer Scandinavian Biogas has changed its name to Biokraft International. The firm said in a statement it decided...

Scandinavian Biogas in German move

Sweden-based bio-LNG producer Scandinavian Biogas will establish a unit in Germany and plans to invest up to 90 million...