US private equity group TPG is in talks to invest in the Lithuanian second-hand fashion platform, Vinted, according to the Financial Times, BNS reports. Under the deal, TPG would acquire several hundred million euros worth of existing shares in Vinted. The deal would value the company at EUR 5bn. Vinted has been working with US…
Lithuanian media group 15min Group will acquire the local radio station network, M-1, from Ruta Grusniene for an undisclosed sum, BNS reports. 15min Group, which is majority-owned by Estonia’s Postimees Group, plans to close the deal by the end of summer 2024, subject to regulatory approval. The M-1 group owns local radio stations M-1, M-1…
Hong Kong-based investment firm PAG Private Equity will acquire full control of Latvia’s Food Union Group, which produces ice cream and other frozen foods, LSM reports. PAG expects to complete the transaction in the first quarter of 2024. Food Union will continue under present management and business structure. PAG has been an investor in Food…
Latvia’s national air carrier, airBaltic, has no plans to buy Estonian airline Nordica, ERR reports. Martin Gauss, CEO of airBaltic, said that the company’s business plan did not foresee any acquisitions. Moreover, the terms of EU aid to the airline did not allow the company to acquire other airlines, he pointed out. Gauss said that…
The Estonian Competition Authority (Konkurentsiamet) has approved a takeover of Tallinn’s municipal company, Tallinna Soojus, by private energy group Utilitas, ERR reports. Following the takeover, Tallinna Soojus and Utilitas will establish a new joint venture, Utilitas Tallinna Soojus, which will become the new parent company of Tallinna Soojus. Utilitas will own 66.66% and Tallinn municipality…
The Estonian Competition Authority (Konkurentsiamet) has approved Finnish meat processing group HKScan’s sale of its Baltic businesses to Estonia’s Maag Grupp, LSM reports. However, Maag Grupp will have to sell two of its major food brands, Rannamõisa and Rannarootsi Lihatööstus, ERR reports. Under the deal signed in December 2022, Maag Grupp will acquire HKScan’s Rakvere…
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…
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…
Estonian debt collection and credit management company Aktiva Finance Group will acquire Swedish credit management company Intrum Group’s business in the Baltic States for EUR 30mn, TVNET reports. Under the deal, Aktiva Finance Group will acquire 100% of shares in Intrum Group’s subsidiaries in Estonia, Latvia, and Lithuania. The transaction is expected to be closed…