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…
Lithuanian real estate developer Hanner will take over the project to build a new national stadium in Vilnius, the city’s mayor, Valdas Benkunskas, announced, BNS reports. Vilniaus Daugiafunkcis Kompleksas, the original concessionaire on the project, is managed by private equity fund management company BaltCap, which is mired in a major embezzlement scandal. Under the new…
Lithuania’s Vilnius City District Court has approved a request from the European Public Prosecutor’s Office (EPPO) to arrest Sarunas Stepukonis, former partner at Estonia-registered BaltCap Infrastructure Fund (BInF), BNS reports. Stepukonis is suspected of embezzling at least EUR 27mn from the fund. His current whereabouts are unknown. BaltCap has sued Stepukonis and casino operator Olympic…