Savosolar Oyj has signed a conditional share exchange agreement by which it will buy maritime logistics company Summa Oy and biofuel company VG EcoFuel Oy from VG-Shipping Oy. After the merger, VG Shipping will become the majority owner of Savosolar Oyj.
Together, Savosolar, Summa and VG EcoFuel can respond to the growing demand for solutions based on renewable energy and to make up for the lack of supply in the market. The owners of Savosolar will receive a 30 percent stake in the new entity, VG Shipping owns 70 percent of the shares.
A press conference for analysts, investors and journalists was organized as a webinar on August 29, at 10:00 a.m. (CEST).
Presentation at the press conference:
Savosolar Summa_Management presentation_ENG
Video of the event (in Finnish)
Other presentations:
Summa Oy’s and VG EcoFuel Oy’s company presentation