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Friday, 26.04.2024, 01:26
SBA concern buys 25% in Lithuania's Utenos Trikotazas
BC, Vilnius, 13.06.2016.
Print version
Print versionSBA concern has purchased a 24.94-% stake in Utenos Trikotazas (Utena Knitwear), Lithuania's largest knitwear manufacturer, for nearly 1.3 million euros from Amber Trust, KJK Fund, Firebird Republic Fund and Firebird Avora Fund investment funds, informs LETA/BNS.
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"As the fund investment period was about to expire, the partners transferred their shares to the SBA concern. (…) The SBA decision to boost the stake is based on the company's current tendencies of results and the future development potential," SBA vice-president Algirdas Sabunas said in a press release.
Following the deal on June 9, the SBA stake in Utenos Trikotazas grew to 86.76%, the knitwear manufactured siad via the Nasdaq Vilnius stock exchange.
Petty shareholders and other investment funds currently have 13.24% of the Utenos Trikotazas' authorized capital, including 5.5% of shared owned by Sweden's East Capital Asset Management.
Utenos Trikotazas' shares are quoted on the blue-chip main list of the Nasdaq Vilnius stock exchange.
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