One of the largest Lithuanian investment companies Invalda LT, AB will acquire shares in Vilniaus baldai, AB provided during the official tender offer for the total amount of EUR 3.496 million (LTL 12.07 million ). The settlement of the shares will take place on August 1, 2013.
“The official tender offer was announced due to the change of control in Invalda LT, AB as well as indirect change of control in Vilniaus baldai, AB”, – Darius Sulnis, the president of Invalda LT, AB said.
The period of the official tender offer to buy up shares in Vilniaus baldai, AB ended on Monday (July 29th). 13.9 per cent of shares in Vilniaus baldai, AB was offered to the acquiring persons. Following the tender offer circular provisions, Invalda LT, AB will acquire 6 per cent of shares in Vilniaus baldai, AB, paying EUR 14.869 (LTL 51.34) per share.
According to D. Sulnis, activity of Vilniaus baldai, AB will be aimed to a maintaining of its global competiveness as well as increase of efficiency.
“This becomes a precondition for getting acceptable manufacturing contracts and assures profitability as well as positive cash flows and payments to shareholders,” – D. Sulnis said.
After the settlement of the shares, Invalda LT, AB will own 45 per cent of shares in Vilniaus baldai, AB.