Narva Elektrivork

Power grid located in North-east Estonia; 35,000 customers in 2002.

In November 1998, 49% was bought by the Cinergy/local jv, Startekor, for Ekr 58mn (US$ 4.142mn). Startekor had the right to purchase an additional 18% of the company, and in 1999 acquired the remaining 51%. Cinergy sold its 67% stake in Startekor in August 2002, to its jv partner, Estonian investment firm Sthenos. Sthenos later sold a majority of shares to an Austrian investment firm.

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