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Wednesday, 24.04.2024, 04:51
Lords LB Asset Management’s fund to acquire Comfort Hotel LT in Vilnius from Norway’s Selvaag
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Lords LB Baltic Fund IV would acquire 100% of shares in Eicore, the hotel owner, for an undisclosed amount, Lords LB Asset Management said in a press release.
The deal, which needs anti-trust clearance from the Competition Council, is expected to be closed in March.
Lords LB Baltic Fund IV currently owns k29, a business center, and intends to acquire a few more properties matching the fund’s strategy within the next several years.
Lords LB Asset Management owns six real estate and two private equity investment funds, as well as the Baltic Energy and Infrastructure Fund (BEIF). Assets managed by those funds were worth more than 233 million euros in total at the end of 2015.
The list of the company’s shareholders features three private investors and their companies, including Mindaugas Marcinkevicius, one of the former ten shareholders of VP Grupe (VP Group), who owns 47% of shares in the investment management firm indirectly.
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