Lithuanian real estate developer Hanner and Baltic investment company BaltCap have completed a deal under which Hanner will take over the national stadium project in Vilnius, BNS reports. Hanner acquired 98% of shares in Venetus Capital, which owns the project’s concessionaire, Vilniaus Daugiafunkcis Kompleksas (VDK), for one euro. Hanner will pay EUR 2.8mn to BaltCap for part of VDK’s EUR 6mn loan for the project. Also, Hanner has completed negotiations with local construction company Naresta, which will build the main stadium and other infrastructure for EUR 70mn. Hanner’s board chairman, Arvydas Avulis, said that construction of the national stadium would resume within a week.
Read Less, Know More.