Neste Oil Divests its Gas Business in Estonia

Neste Oil (HEL:NES1V) reports that it has sold its majority-owned (93.85%) Estonian subsidiary, AS Reola Gaas, to the Estonian-based Alexela Group.

The press release is quoted as saying:

The parties have agreed not to disclose the value of the sale. The divestment will have a minor positive impact on Neste Oil’s third-quarter result. The 25 people employed by AS Reola Gaas will transfer to Alexela as part of the transaction.

Click here to access the entire press release