The Bank of Lithuania registered the circular of the tender offer to buy up shares in Vilniaus Baldai, AB, one of the major Lithuanian furniture manufacturer, on July 9, 2013.
Investment companies Invalda LT, AB and Invalda Privatus Kapitalas, AB and their shareholders holding together 73.87 shares in Vilniaus Baldai, AB are cooperating together in rendering the tender offer.
“The tender offer is announced due to the change of control in Invalda LT, AB as well as indirect control in Vilniaus Baldai, AB. The amount additionally invested by Invalda LT, AB into the shares in Vilniaus Baldai, AB will be known after completion of the whole process, because each the shareholder of Vilniaus Baldai, AB will have to decide whether to accept this offer”,- Darius Sulnis, the president of Invalda LT said.
The tender offer price is EUR 14.869 (LTL 51.34) per share.
The total amount of EUR 15.1 million (LTL 52.137 million) may be paid for 26.13 percent of the shares in Vilniaus Baldai, AB.
It is assumed that Invalda LT, AB may acquire 12.72 percent of shares in Vilniaus Baldai, AB for the value of EUR 7,352 million (LTL 25.385 million). The remaining shares will be acquired by Invalda Privatus Kapitalas, AB. The implementation of tender offer will start on July 15, 2013 and will last 14 days.