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Lithuania's Maxima to use bond proceeds to refinance loans for Polish chain acquisition
BC, Vilnius, 13.09.2018.
Print version
Print versionMaxima Grupe (Maxima Group), the largest retail group in the Baltics, will use all of the proceeds from last week's 300-million-euro bond offering to refinance short-term loans, reported LETA/BNS.
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Maxima Grupe spokeswoman Ernesta Dapkiene has confirmed that SEB Bankas' loans were used to finance last spring's 284-mln-euro acquisition of Emperia Holding, the operator of the Polish retail chain Stokrotka.
Maxima Grupe in late July unveiled plans to invest around 200 mln euros this year and next year, with a considerable part of the investment to go to Poland. The group plans to merge Stokrotka stores with its Aldik chain in the neighboring country.
Dapkiene said the group intends to use both its own and borrowed funds for its planned investments.
Maxima Grupe is part of the Vilniaus Prekyba Group, which is controlled by Nerijus Numavicius.
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