Among others, Excedea advised the deal completed in March in which listed Finnish company Technopolis teamed up with Ülemiste City to set up a joint venture to manage a billion kroons of assets in Estonia. "Ülemiste City is only the first of many such projects. I believe that we will have similar announcements after the summer," said he.

"Investors have also expressed interest towards some Estonian companies listed in Tallinn and asked us to study about the possibility of acquiring all or part of them," he added.

According to the businessmen, Scandinavian investors regained interest towards Estonia at the end of last year. "The last three to four months have been very active," he added.

According to the consultant, Scandinavian businessmen are more daring to look around in Estonia for possible investment opportunities since the Estonian economy is recovering and some companies have survived the crisis well. "We are not interested in buying up troubled companies cheaply, rather than want to cooperate with successful enterprises," he added.

Also representatives of Enterprise Estonia agree that the interest of Scandinavian businessmen has grown notably. Ele-Merike Pärtel from EAS said that there were several trends. "There are Scandinavian companies that already have production in Estonia are transferring more jobs here to cut costs further. Then there are companies that are looking for a new production base. This all applies not only on Scandinavian companies, but we have had similar  cases also from the rest of Western Europe."

http://balticbusinessnews.com/article/2010/04/15/Interest_of_Scandinavian_investors_in_Estonia_the_highest_in_years