Investments, Lithuania, Markets and Companies, Metals Market

International Internet Magazine. Baltic States news & analytics Sunday, 26.10.2014, 07:06

Invalda signs sale agreement regarding shares of Umega

Danuta Pavilenene, BC, Vilnius, 02.12.2011.Print version
Invalda, one of the largest investment companies in Lithuania, has signed the agreement regarding sale of 29.5% stake in the metal processing company Umega, Invalda informs.

"Having analyzed an offer of the shareholders of Umega and reviewed various alternatives we have decided to accept the proposal to sell our stake," said Darius Sulnis, the president of Invalda.

 

The transaction should be closed in the beginning of 2012, when the buyers receive a permission of the Competition Council, writes LETA/ELTA.

 

Both parties agreed not to disclose details of the transaction. Based on preliminary estimates the sale of Umega shares will be reflected in the financial statements for the first quarter of 2012 and will have a minor positive impact on the result of Invalda.






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