The shareholders of Invalda LT, one of the major investment companies in Lithuania, have approved the split-off terms, under which INVL Baltic Farmland, INVL Baltic Real Estate and INVL Technology will be spilt-off from Invalda LT. The meeting took place on 28 of April.
The split-off is implemented by transforming the business model of Invalda LT following classic asset management principles. In the future, Invalda LT will seek to have the main income from management activities and become one of the leading asset management companies in the region.
Current shareholders of Invalda LT will have proportional stakes in the capital of the new companies. 52.05% of assets, equity and liabilities (calculated in book values) will stay in Invalda LT, 14.45% will be transferred to INVL Baltic Farmland, 30.9% to INVL Baltic Real Estate and 2.6% to INVL Technology. The standalone assets of Invalda LT accounted to LTL 174.6 million in 2013, equity – LTL 160 million.
As it was announced earlier, the split-off is performed using book values, thus the new companies’ share price will be set by the market.
More information will be available after the split-off is completed.