The real estate investment company INVL Baltic Real Estate had a consolidated net profit of EUR 0.3 million in the first half of this year, 85 percent less than in the same period last year when the net profit was EUR 1.9 million. The fall in profits was due to a sharp rise in interest costs and a significant increase in the value of investment assets recorded in the previous year.
MoreINVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States, has increased the investment in the veterinary care through its portfolio company MiniVet, by acquiring DiVet, a veterinary clinic based in Vilnius. This is the fund’s second investment in building a network of veterinary clinics in Lithuania.
MoreINVL Partner Private Equity Fund I, a feeder subfund of INVL, the leading investment management and life insurance group in the Baltics, has raised a further EUR 12.175 million from investors and has been entrusted with funds by 29 investors.
MoreEvaldas Matulis, who previously held the position of Head of the Legal Department, has been appointed as the CEO of Litagra, one of the largest Lithuanian agricultural business groups. He will replace Mindaugas Bareišis, who has been managing Litagra since 2017, and who will continue working in the position of the Financial Director.
MoreINVL Baltic Farmland, a company that invests in agricultural land, had an unaudited net profit of EUR 218,000 in January-June this year, or 54.9% less than in the first half of 2022 when the results were significantly affected by gains from the land sale transaction. Excluding the impact of the sale of land, net profit in the first half of this year was 17.5% higher than during the same period last year.
MoreINVL Baltic Real Estate completed a transaction to acquire the Pramogų Bankas building in Vilnius. The real estate investment company paid Nesė Group, an operator of entertainment, food service and gaming businesses, EUR 2.9 million for 100% of the shares of the company Pramogų Bankas.
MoreMundus Bridge Finance, a private debt fund of INVL, the leading investment management and life insurance group in the Baltics, signed an agreement on a EUR 7 million bond programme with Juno Estate.
MoreThe Mundus Bridge Finance private debt fund signed an agreement with Orion Leasing on the acquisition of EUR 7 million of bonds. Mundus Bridge Finance acquired part of the bond issue (EUR 5,3 million) at the time of signing the agreement and will acquire the remaining bonds later.
MoreREFI Energy, a company of INVL Renewable Energy Fund I managed by INVL Asset Management, a fund investing in renewable energy projects, has raised EUR 3.5 million for the construction of solar power plants in Poland.
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