Lithuanian-owned ACMI provider Avia Solutions Group (ASG) has acquired the UK-based airline operator, Synergy Aviation, AviationSource reports. ASG will later rebrand Synergy Aviation to Ascend Airways. Jonas Janukenas, CEO of ASG, said that the group planned to expand further in the UK. Irish-based ASG is the parent company of several airlines, including Avion Express, Bluebird…
Latvia’s Foreign Ministry has repeated its strong recommendation for Latvian citizens not to travel to Belarus and Russia due to the current tense security situation, LSM reports. The ministry warned that travellers may be subjected to provocations. Diana Eglite, press secretary at the Foreign Ministry, urged people to assess risks. In June 2022, a Latvian…
Estonia’s Ministry of Interior will propose banning the use of non-personalised prepaid SIM cards, ERR reports. Under the proposal, anyone would still be able to buy a prepaid SIM card, but would have to provide personal details to activate the card. Veiko Kommusaar, undersecretary for internal security at the Ministry of Interior, noted that Estonia…
Estonia’s Swedbank will relocate its head office from the current premises on Tallinn’s Liivalaia Street to a new office tower in the new Arter business quarter in the first half of 2025, ERR reports. Olavi Lepp, CEO of Swedbank, said that the current premises have become too small and are old-fashioned. Property developer Kapitel’s new…
Traffic disruptions caused by major road reconstruction projects in Estonia’s capital, Tallinn, will begin to subside in September 2023, deputy mayor Vladimir Svet assures, ERR reports. Construction companies KE Infra and Merko Ehitus say that the work is proceeding on schedule. Streets have been closed in several of the busiest parts of the city, hampering…
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…
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…
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…