INVL Technology holding Novian group company seeks to acquire Elsis PRO

Novian Systems, part of the Novian group owned by the IT-business investment company INVL Technology, has signed agreements to acquire 100% of the shares of information systems and software developer Elsis PRO. Completion of the transaction is planned once permissions are obtained from Lithuania’s Competition Council and the Commission for Assessment of Conformity of Potential Participants to National Security Interests. Its value is not being made public.

INVL Baltic Real Estate had a net profit of EUR 750 000 in first half of this year

Real estate investment company INVL Baltic Real Estate’s consolidated net profit for the first half of this year was EUR 750 000 and was 19% less than in the same period of 2020. The company’s consolidated equity at the end of June this year was EUR 17.6 million, or EUR 2.19 per share, and increased 23.5% compared to the end of the first half of 2020 (also taking into account dividends that were paid).

Eco Baltia completes acquisition for majority stake in Ecoservice

The Baltics’ biggest environmental and waste management group Eco Baltia, backed by a private capital investor, INVL Baltic Sea Growth Fund, and the European Bank for Reconstruction and Development (EBRD), has bought 85% of the shares of Ecoservice, a leading environmental management company in Lithuania, thus strengthening its position in the Baltic States and Eastern Europe.

INVL Renewable Energy Fund I raised EUR 18.5 million in just two weeks

INVL Renewable Energy Fund I, which will invest in renewable energy projects and is managed by INVL Asset Management, one of the leading asset management companies in Lithuania, raised €18.5 million and proceeded to initial closing. Of these, €1.24 million was invested by Invalda INVL Group together with the Fund’s partners.

INVL Baltic Farmland reports EUR 203,000 profit in H1

INVL Baltic Farmland, a company investing in agricultural land, has reported a revenue of EUR 320,000 and a net profit of EUR 203,000 in the first half of this year. Compared to the same period last year, the company’s revenue grew by 4.2%, while its net profit was up 23%.

Moldova-Agroindbank will distribute almost EUR 10 million dividend

The shareholders of Moldova-Agroindbank (MAIB), the  largest bank in Moldova, approved MDL 209 m (c. EUR 9.8m) dividend at the AGM held on 22 July 2021. Last year no dividend for 2019 was distributedin order to conserve capital in the face of the COVID pandemic.

State Aid Fund for Business to invest up to €5 mn in the engineering solutions company Montuotojas

The State Investment Management Agency (VIVA), which manages the State Aid Fund for Business (Fund), signed a deal with one of the biggest engineering solutions, industrial equipment manufacturing and construction company Montuotojas. Under the signed agreement, the Fund will acquire in stages the company bonds that are up to €5 mn in value. The main shareholder of Montuotojas, a private equity fund INVL Baltic Sea Growth Fund, has granted the company additional €1 mn.