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International Internet Magazine. Baltic States news & analytics Thursday, 04.06.2020, 13:56

Lithuania's Invalda INVL and partners win Moldova-Agroindbank auction

BC, Vilnius, 02.10.2018.Print version
An international consortium including Lithuania's Invalda INVL, one of the largest property management groups in the Baltic states, on Tuesday won an auction for the sale of a stake in Moldova-Agroindbank (MAIB), Moldova’s largest commercial bank, informed LETA/BNS.

The consortium, acting via the UK-based company HEIM Partners, offered 451.533 mln Moldovan lei (23.031 million euros) for 41.09% of MAIB shares.

"This transaction is a significant indirect investment in Moldova by a Lithuanian business. We are confident the international consortium will bring Western standards of governance to Moldova’s banking sector and contribute to the development of the financial industry, thereby also increasing the value of MAIB for benefit of all stakeholders, including the investors,” Invalda INVL President Darius Sulnis said.

The consortium includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL and Horizon Capital.

MAIB had assets of 1.078 bln euros and equity of 180 mln euros at the end of last year.

The EBRD and MD Partners, which is owned by Invalda INVL, each own 37.5% of shares of HEIM Partners, while the private equity manager Horizon Capital holds the remaining 25%.

Invalda INVL is quoted on the Nasdaq Vilnius Stock Exchange's Secondary List.

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