Vilnius, Lithuania, 2014-06-30 17:00 CEST (GLOBE NEWSWIRE) -- On 30 June 2014, the transaction of 100% shares sale of UAB Baltijos Liftai, registration no. 302496587, was completed. The value of the transaction was LTL 3.6 million (EUR 1.04 million), including the dividends paid. The shares were purchased by private persons from the Republic of Latvia.
Upon completing the transaction, starting from 30 June 2014, AB City Service (hereinafter referred to as the Company) and its subsidiaries are no longer involved in elevators technical maintenance activities.
Taking into consideration that since 31 March 2014 the Company no longer performs waste transportation activities, as of the date of this announcement the Company and its subsidiaries have fully implemented the requirements of Article 4.84 of the Civil Code of the Republic of Lithuania, establishing that the entities, administering objects of common use in apartment buildings may not be engaged in or related to heat, electricity, gas or water suppliers, as well as to entities, providing waste transportation and elevators technical maintenance services, in case they operate in the territory of the same municipality.
UAB Baltijos Liftai is a licensed company, which, together with its subsidiary UAB Šiaulių Liftas, is engaged in technical maintenance of elevators and escalators and performs elevators and escalators installation and modernization works. In 2013 the consolidated activity revenues of UAB Baltijos Liftai and its subsidiary UAB Šiaulių Liftas amounted to LTL 8.76 million (EUR 2.53 million).
The Company’s financial advisor was UAB FMĮ “Orion Securities”.
Vilius Mackonis,
Director of Marketing and Communication Department
+370 5 239 4900