The international credit rating agency, Fitch Ratings, has reaffirmed Lithuanian shopping centre developer Akropolis Group’s long-term borrowing rating at BB+ with a stable outlook, GlobeNewswire reports. The agency noted Akropolis Group’s good financial and operational performance, leading market position, and low vacancy rate. Nerijus Maknevicius, CEO and board chairman of Akropolis Group, said that the…
Lithuanian agricultural company Kauno Grudai has completed the acquisition of 100% of shares in the local agricultural cooperative, Grybai LT, from organic food producer Auga Group for EUR 16.327mn, GlobeNewswire reports. Kauno Grudai bought the shares from Auga Group’s subsidiaries for EUR 12.949mn and repaid Grybai LT’s loan of EUR 3.379mn. Also, Kauno Grudai granted…
The Principality of Monaco may establish a permanent office in the Latvian capital, Riga, The Baltic Times reports. Andris Kuznieks, deputy head of the European Commission’s representation in Latvia, offered premises for regular cultural activities to showcase Monaco. The issue was discussed during a visit to Latvia by Professor Franco Borruto, consultant on health care…
The movements of the Russian private military company, Wagner Group, in Belarus do not present any direct threat to Latvia, the Ministry of Defence stated, LETA reports. The ministry noted that Latvia’s national security authorities have been on high alert ever since Russia started its full invasion of Ukraine. Meanwhile, Latvian President Edgars Rinkevics said…
Lithuanian asset management firm Modus Asset Management’s Clean Energy Infrastructure Fund will acquire Estonian renewable energy company Evecon’s solar farm portfolio in Latvia for an undisclosed sum, The Baltic Times reports. The portfolio consists of ten ground-mounted solar farms with bifacial solar panels and a total installed capacity of 55 MW. The portfolio is close…
Estonia and Latvia have put their national interests ahead of regional projects in regard to the synchronisation of the Baltic power grids with the contintental European system, Lithuania’s former energy minister, Arvydas Sekmokas, stated. Speaking in an interview with LRT, Sekmokas noted that Estonia seemed to want to postpone the synchronisation project to 2025 and…
The Estonian ticket vending group, Piletilevi Group, has acquired majority ownership of Czechia’s largest ticketing platform, GoOut, ERR reports. Sven Nuutmann, Piletilevi’s board chairman, noted that ticketing platforms were currently in a difficult position, and that now was therefore a good time to buy. He said that Piletilevi was looking at possible acquisitions in other…
Estonian fish processing group PRFoods posted unaudited preliminary consolidated turnover of EUR 19.23mn in the financial year 2022/2023, which was down 6.6% from EUR 20.59mn in the year before, GlobeNewswire reports. Turnover from continuing operations amounted to EUR 19.08mn, which was up 30.2% from EUR 14.66mn in 2021/2022. In the fourth quarter of 2022/2023, the group’s…
Several hundred people gathered in Lithuania’s capital, Vilnius, on 19 July 2023 to protest against plans by local property developer Dobilo Daigas to cut down nine trees in a small green space in the city centre, LRT reports. Dobilo Daigas plans to expand a café on the small square, which is part of the historic…