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International Internet Magazine. Baltic States news & analytics Saturday, 11.07.2020, 21:28

Lithuania's Novaturas gets 3 new shareholders

BC, Vilnius, 05.06.2020.Print version
Following the withdrawal of Central European Tour Operator from the shareholders of Novaturas, one of the largest tour operators in Lithuania, on Jun 2, the management of Novaturas Group received notifications from three new investors – Estonian companies Rendez Vous, Moonrider and Rondam, informed LETA/BNS.

"We value investor confidence and accept it as a belief in the sustainable future prospects of our business. We, like the global tourism business, are particularly hard hit by the constraints of COVID-19, but we have taken many steps to manage the situation," Audrone Keinyte, CEO of Novaturas Group, said in a statement releases via the Nasdaq Vilnius Stock Exchange.

Adapting to the circumstances, Novaturas has also started local tourism, and from July we plan to resume some activities and start trips from all Baltic countries to Greece and Bulgaria.

10.25% of shares were acquired by Rendez Vous OU, a company operating in Estonia. Its CEO, Janek Pohla, is the founder and member of the management board at Tahe Outdoors. Tahe Outdoors has been a successful manufacturer and distributor of water sports equipment for more than 25 years and is one of the leaders in the field in Europe. The company operates 4 factories in Estonia, Germany, and France, with distribution and sales offices located in the USA, Australia, and Japan. 

9.99% of shares of Novaturas Group were acquired by company Moonrider OU related with Estonian investment company Go Group, which operates in the fields of tourism, transport, real estate and engineering. Go Group has been operating since 2005 and also owns Go Travel, one of the largest and longest-running travel agencies in Estonia. Go Travel is a long-term business partner of Novaturas Group subsidiary in Estonia.

Another 5.25% of shares of Novaturas Group are now owned by the Estonian group of companies Rondam AS, established in 1993 in Tartu. Companies, belonging to the Rondam AS group, operate the largest hotel in Tartu Dorpat with the spa center, as well as one of the best-rated hotels in Tallinn, Lydia. The owner of Rondam AS also owns Estiko Group which is engaged in accommodation services, real estate development and management, and manufacturing businesses.  

As of today, 9.99% of shares of Novaturas Group are owned by ME Investicija, controlling also Girteka Logistics, 9.49% - by Ugnius Radvila, Vidas Paliunas and Rytis Sumakaris each owns 6.86% of shares.

Central European Tour Operator's withdrawal from Novaturas was announced on Wednesday.

Central European Tour Operator is a company belonging to the Polish Enterprise Fund VI, managed by Enterprise Investors. The fund invested in the Novaturas Group back in 2007. Central European Tour Operator owned 34.42% of shares of Novaturas Group.

Novaturas is quoted on Vilnius and Warsaw Stock Exchanges.

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