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Lithuanian media watchdog clears Cgates deal
BC, Vilnius, 01.09.2017.
Print version
Print versionBaltic private equity fund Livonia Partners jointly with the Estonian bank LHV's pension fund and Skype's founders have obtained another regulatory approval for investing in Lithuania's second-largest television and Internet services provider Cgates, reports LETA/BNS.
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The Lithuanian Radio and Television Commission (LRTK) on Wednesday gave the
green light for Latvia's EuVECA Livonia
and Estonia's LHV Varahaldus to
indirectly acquire a 34.8% stake in Cgates
Group via Lithuania's Silver Screen
Holdings.
The Lithuanian Competition Council cleared the deal last week.
The rest of the shares will be owned by Polaris
Invest, a company owned by Estonian businessman Indrek Kuivallik, and Estonia's Com
Holding.
Cgates last year posted
a net loss of 515,000 euros, versus a net profit of 1.433 million euros in
2015, on revenue of 17.038 million euros, up 3.5% from 16.428 million euros.
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