The Board of Invalda LT, AB completed analysis of strategic options, related to shares of one of the largest agricultural groups in the Baltics – Litagra, UAB, held by Invalda LT, AB. Invalda LT decided to increase owned stake in Litagra UAB.
28 April 2014 Invalda LT signed the agreement with Invalda Privatus Kapitalas regarding acquisition of 45.45% of Cedus Invest shares thus increasing stake in the company up to 100 %, and undertake all loans of the company. Invalda LT now owns 54.55% of Cedus Invest which has 36.9 % of Litagra shares therefore the effective part in Litagra UAB owned by Invalda LT is now equal to 20.1%. After the deal Invalda LT will own 36.9% in Litagra, one of the largest agricultural companies in Baltics.
For 45.45 shares in Cedus Invest and loans granted to this company Invalda LT will pay LTL 24.124 million (EUR 6,987 million). Transactions regarding sale of Vilniaus Baldai and increase of stake in Litgara should be completed when the Competition Council permits are received and all other conditions, laid down in the agreements, are fulfilled.
The companies of Litagra, UAB group are engaged in the primary crop and livestock production, grain processing and agricultural services, management and consulting of companies as well as investments. Group companies trade in plant protection products, fertilizers, seeds, compound feed, feed supplements, veterinary products. Moreover, companies’ trade in grain, provide drying of grain and other raw materials, cleaning, loading and storage services.
As it was announced previously, in 2013, Litagra collected LTL 452.5 million (EUR 131.05 million) revenue; earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to LTL 28 1 million (EUR 8.14 million).
Consolidated Litagra equity value, attributable to shareholders of the Company, reached LTL 129.474 million at the end of 2013. The 100% stake of the company was evaluated at LTL 143.9 million (EUR 41.7 million) in the acquisition deal.
The person authorized to provide additional information:
Darius Sulnis
President
Phone +370 5 279 0601
Email: [email protected]