AB Linas Agro Group AB acquired claim in respect of Putnu fabrika Kekava

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| Source: Linas Agro Group AB
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Panevezys, Lithuania, 2013-12-06 14:00 CET (GLOBE NEWSWIRE) -- On 5 December 2013 AB Linas Agro Group acquired from AB Kauno grūdai and its related parties claim in the amount of EUR 10,399,341.64 (with additional applicable interest) in respect of Latvian company AS Putnu fabrika Kekava (identification number 50003007411). The claim acquired by AB Linas Agro Group in respect of AS Putnu fabrika Kekava is secured by mortgage, pledge and other means securing performance of obligations.

From October 2013 Putnu fabrika Kekava is the subsidiary of AB Linas Agro Group. By acquiring claims from AB Kauno grūdai and its related parties, AB Linas Agro Group starts restructuring of AS Putnu fabrika Kekava, which would aim at restoring financial stability of the company and developing of its activities.

 

About AB Linas Agro Group

AB Linas Agro Group is an agribusiness parent company engaged in the production and trade of grains, oilseeds, feedstuff and agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and Denmark. The group consists of international agricultural production trading company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų centras KŪB (controlling grain storages in Joniškis, Kėdainiai, Kupiškis, Pasvalys, Šakiai district, Šiauliai and Vilkaviškis), Latvian trading company SIA Linas Agro, international trading company Linas Agro A/S in Denmark, group of companies ŽŪB Landvesta, managing agricultural land, holding of agricultural companies UAB Linas Agro Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, operator of lignin biofuel accumulation UAB Lignineko, logistic company UAB Jungtinė Ekspedicija and other companies. The financial year of the Group begins on 1 July. The total headcount of the Group exceeds 1,140 employees. Consolidated revenue of AB Linas Agro Group for financial year 2012/2013 ended June 2013 totaled LTL 2,043 million, EBITDA – LTL 127 million.

Together with partners, the Group owns grain storage company Karčemos Kooperatinė Bendrovė.

From 17 February 2010 AB Linas Agro Group is included in the main list of companies of NASDAQ OMX Vilnius stock exchange.

         More information:
         
         Andrius Pranckevičius
         Deputy Managing Director of AB Linas Agro Group
         Phone +370 687 71 419
         E-mail a.pranckevicius@linasagro.lt