Savosolar has two business units: Marine logistics and Renewable energy. The Marine logistics business unit (Meriaura Oy) is a major carrier of dry cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company offers its customers competitive and environmentally sustainable sea transport services, while reducing the carbon emissions of sea transport. As part of Marine logistics, VG-EcoFuel produces recycled biofuels from recycled bio-oils and industrial byproducts. The Renewable energy business unit designs and delivers clean energy production systems as turn-key deliveries. The heart of the systems is large-scale solar heating systems, which are implemented using the company’s own efficient solar thermal collectors.
The transaction was conducted through a share exchange where new shares in Savosolar were offered for subscription to VG-Shipping against a total subscription price of EUR 30.0 million. The subscription price was paid with contribution in kind in form of all shares in Meriaura.
Augment acted as financial advisor in the listing process related to the reverse takeover between Savosolar Oyj and Meriaura Oy.