In a February 12, 2024 stock exchange announcement, Mainor Ülemiste AS announced a purchase and sale agreement with Technopolis Baltic Holding OÜ to purchase 51% voting shares of Technopolis Ülemiste AS.
The Estonian Competition Board granted the necessary permission to complete the transaction on March 7, 2024. After the transaction is completed, Mainor Ülemiste AS will become the sole developer of Ülemiste City.
In addition, the shareholders of Mainor Ülemiste AS adopted a decision to increase the share capital of Mainor Ülemiste AS by 6,956,651.4 EUR by issuing 11,594,419 new shares with a nominal value of 0.6 euros per share. The new share capital of Mainor Ülemiste AS will be 25,156,651.2 EUR.
With the transaction, Mainor Ülemiste includes a new investor, Mulligan Capital OÜ, which acquires 28.28% of Mainor Ülemiste. Mulligan Capital OÜ is an investment vehicle established by entrepreneurs Anders Anderson and Ivar Vendelin.
„We are thrilled to partner with Pärnits family and the Ülemiste City team in capitalizing the market opportunity and facilitating the repurchase of the majority stake of Technopolis Ülemiste AS. This investment reflects our confidence in the perspectives of the Ülemiste City, its smart concept and the capabilities of its team. Ülemiste City stands out as an innovative and dynamic business district that is strategically positioned alongside Tallinn’s airport, the future Rail Baltica terminal and Ülemiste shopping centre. While well-established, the district offers compelling development prospects, which we are eager to implement together“ stated Mulligan Capital OÜ shareholders Anders Anderson and Ivar Vendelin.
The transaction was consulted by TRINITI, Ellex Raidla and PwC Estonia.
Mainor Ülemiste AS is a subsidiary of Mainor AS, whose main activity is the development of Ülemiste City, the largest business district in the Baltic States. 167,000 square meters of leasable office space has been built on the 30 hectares of the campus. Ülemiste City is home to nearly 500 companies and a work, study and living environment for 16,000 people.
Lisainfo:
Guido Pärnits
AS Mainor Ülemiste
Chairman of the Supervisory Board
+372 501 8012