INVL Baltic Sea Growth Fund (“the Fund”), the largest private equity investment fund in the Baltic region, has completed the acquisition of a controlling stake (52.81%) in Eco Baltia, the largest environmental management group for plastic recycling and waste collection in the Baltics.
The real estate investment company INVL Baltic Real Estate’s management company, INVL Asset Management, has approved the procedure for a buy-back of shares. It will give shareholders who held its shares as of 2 April 2020 and did not participate in or did not approve the adoption of at least one of the decisions to increase INVL Baltic Real Estate’s maximum debt level and to change its depository an opportunity to sell their shares for the net asset value.
INVL Baltic Farmland, a company that invests in agricultural land, in the first quarter of this year had revenue of EUR 153 000 and a net profit of EUR 69 000. Compared to the same period last year, the company’s revenue grew 1.3%, while its net profit increased 53.3%.
INVL Baltic Sea Growth Fund (“the Fund”), the largest private equity investment fund for the Baltic region, has signed an agreement in principle to acquire a controlling stake in Eco Baltia, the largest in terms of net sales environment management group (plastic recycling and waste collection) for the geography.
The real estate investment company INVL Baltic Real Estate’s consolidated net profit for the first quarter of this year was EUR 0.4 million and increased 69.7% compared to the same period of 2019. The company’s consolidated equity at the end of March this year was EUR 44.4 million. Equity per share was EUR 3.38 and compared to the end of the first quarter of 2019 increased 30% (also taking into account dividends that were paid out).
INVL Technology, a company that invests in IT businesses, had equity of EUR 28.8 million at the end of the first quarter of this year, or EUR 2.37 per share. The latter figure decreased by 0.4% from the end of 2019. The value of the company’s financial assets at the end of the reporting period was EUR 25.9 million and was unchanged from the start of the year. INVL Technology’s net loss for the first quarter this year was EUR 0.1 million and decreased compared to the same period last year, when the net loss was EUR 0.3 million.
Invalda INVL, one of the leading asset management groups in the Baltics, will manage MD Partners, a company that has invested in Moldova-Agroindbank (MAIB), the largest commercial bank in Moldova, together with an investment fund INVL Special Opportunities Fund which is managed by INVL Asset Management.
The real estate investment company INVL Baltic Real Estate will pay out EUR 20.4 million of dividends. That decision was adopted at a meeting of the company’s shareholders today. It was also decided to increase the company’s maximum debt level to 80% of the value of its real estate and to change the provider of depository services to Šiaulių Bankas, thus reducing the service fees.
The equity of INVL Technology, a company that invests in IT businesses, was EUR 29 million at the end of 2019, or EUR 2.38 per share. The latter figure increased 3.3% during the year. The value of the company’s financial assets at the end of the reporting period was EUR 25.9 million and increased EUR 1.7 million during the year. Audited net profit for 2019, including revaluation of financial assets, was EUR 0.9 million, and compared with 2018 decreased 77.9%.
INVL Baltic Farmland, a company that invests in agricultural land, will pay shareholders EUR 323 000 of dividends for 2019, allocating EUR 0.10 per share. That decision was approved today, 23 March, by the general meeting of shareholders of the company.