Invalda LT - Notification on material event

Invalda LT has sold shares of Vilniaus Baldai and enlarged its stake in Litagra

Vilnius, Lithuania, 2014-05-28 15:15 CEST (GLOBE NEWSWIRE) -- nvalda LT, one of
the major Lithuanian investment companies, on 28 May 2014 completed
transactions regarding sale of 45.4 % stake in Vilniaus Baldai and increase of
its share in Litagra, one of the largest agricultural business companies in the
Baltic states, up to 36.9 %. 

All conditions, laid down in the agreements, were fulfilled and on 27 May 2014
the Competition Council permits were received, therefore the above mentioned
transactions were completed on Wednesday. 

Invalda LT has received LTL 80.198 million (EUR 23.227 million) for Vilniaus
Baldai shares and dividends. LTL 24.124 million (EUR 6.987 million) out of this
amount, were pad for 45.45 % of Cedus Invest shares. After this acquisition
Invalda LT increased its stake in Cedus Invest up to 100 %, and undertook all
loans of the company. Cedus Invest owns 36.9 % of Litagra shares. "We will seek to use all the potential of Litagra group and to contribute to
the organic growth of Litagra Group and consolidation of the market through
acquisitions,"- Darius Sulnis, the president of Invalda LT, said. 

According to him, Litagra operates in several different agricultural and food
processing segments of Lithuania, Latvia and Estonia and is involved in the
global food supply chain. "A wide range of activities and the possible
geography of business, based on the traditional competitive industries in the
region, opens up diverse opportunities for growth and development," - said D.
Sulnis. 

As it was announced earlier, in 2013, Litagra, operating in Lithuania, Latvia
and Estonia, collected LTL 452.5 million (EUR 131.05 million) revenue; earnings
before interest, taxes, depreciation and amortization (EBITDA) amounted to LTL
28.1 million (EUR 8.14 million). Consolidated Litagra equity value,
attributable to shareholders of the Company, reached LTL 129.474 million (EUR
35.5 million) at the end of 2013. The 100% stake of the company was valuated at
LTL 143.9 million (EUR 41.67 million) in the acquisition deal. 


         The person authorized to provide additional information:
         Darius Sulnis
         President
         Phone +370 5 279 0601
         Email: Darius@InvaldaLT.com