Vilnius, Lithuania, 2015-02-12 16:00 CET (GLOBE NEWSWIRE) -- On 12 February 2015, AWT Holding UAB 25 % share transfer transaction was closed. The value of transaction is EUR 3.496 mln. (LTL 12.08 million), according as City Service AB (hereinafter referred to as the Company) investment into 25 % shares of AWT Holding UAB was EUR 1.48 mln. (LTL 5.11 mln.).
The share purchase agreement between the Company and BaltCap investment funds (BaltCap Private Equity Fund II L.P. and BaltCap Private Equity Fund II SCSp) was concluded on 23 December 2014. After closing, the sole shareholder of AWT Holding UAB, which controls Ecoservice group companies, is BaltCap and the Company has no shares or management rights in waste management companies in Lithuania.
The Company reminds that the shares of Ecoservice UAB were transferred to AWT Holding UAB for EUR 16.4 mln. (LTL 56.6 mln.), including dividends amounting to EUR 1.5 million (LTL 5.2 million) paid to the Company. From 31 March 2014, the control and 75 % shares of AWT Holding UAB were owned by BaltCap Private Equity Fund II, remaining part of the shares was owned by the Company. Accordingly, since 31 March 2014, the Company was not involved in waste management activities and thus fulfilled requirements of Civil code of Republic of Lithuania, according to which companies acting as residential facility managers cannot be related to waste management companies.
Vilius Mackonis,
Director of Marketing and Communication Department
+370 5 239 4900