Invalda INVL is reducing its stake in INVL Baltic Real Estate
Invalda INVL’s directly and indirectly held stake in INVL Baltic Real Estate, until now 32.49%, will shrink to 14.37% after this divestment to the company. A company that acquires its own shares does not have the right to exercise the property and non-property rights they confer, such as the right to receive a portion of profits, and therefore following these transactions Invalda INVL’s effective stake in INVL Baltic Real Estate will shrink to 23.43%.
“The proceeds from selling the shares can be used for the Invalda INVL group’s further growth and investments. It is also important that the redemption of its own shares will let INVL Baltic Real Estate continue operating without significant excess capital and thus generate a higher return on equity,” says Invalda INVL President Darius Šulnis.
Invalda INVL invests its own funds in products managed by INVL together with the clients of the group’s companies and intends to retain its existing investment in INVL Baltic Real Estate.
“We are satisfied with INVL Baltic Real Estate’s many years of successful operations and in case the company carries out new significant investment projects or purchase transactions, Invalda INVL would consider increasing its investments in this company ", says Invalda INVL President Darius Šulnis.
Person authorised to provide additional information:
President of Invalda INVL