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2010-01-06 08:27:00 CET 2010-01-06 08:28:00 CET SÄÄNNELTY TIETO City Service AB - Notification on material eventCity Service took over control of Ecoservice groupOn 5 January 2010, City Service AB via a 100% owned subsidiary acquired the title to 100% shareholding interest in Ecoservice UAB, legal entity code 123044722, transferred to it by Bionovus UAB under the Share Purchase Agreement dated 5 January 2010. The price of the share purchase transaction is LTL 55 million. Ecoservice UAB in its turn holds Specialus Autotransportas UAB, legal entity code 140026178, and Trakų Rajono Komunalinių Įmonių Kombinatas UAB, legal entity code 181212948, which perform their operations in Vilnius, Klaipėda and Trakai regions. In 2009, EBITDA of Ecoservice group is expected to reach LTL 9.2 million. Ecoservice AB shares are valued at LTL 56.8 million, according to estimations made by independent valuator Catella Corporate Finance. Decision to acquire Ecoservice UAB was made estimating the expansion potential this company has and also its plans to develop in St.Petersburg city market. As stated Mr.Žilvinas Lapinskas, General Manager of City Service AB, this decision is aimed to increase value of City Service group by integration of Ecoservice group and by further expansion of Ecoservice group in Lithuania and foreign markets. City Service owns 30 companies operating in Lithuania, Latvia, Russia and the Ukraine. The total area of facilities managed by the Group constitutes almost 18 mill. sq. m. Vilius Mackonis Public Relations Officer +370 5 239 4900 |
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