President of UAB Koncernas MG Baltic, Darius Mockus, is to purchase 33.33% of UAB MG Valda shares from the investment company UAB Extera Baltic of Rolandas Vingilis.
According to Vingilis, due to personal reasons he is changing his earlier intent to acquire 100% shares of MG Valda.
‘It is often necessary to take prompt, sometimes less considered decisions both in life and in business. In this case we have found a suitable solution for both of us,’ Vingilis said.
‘Our performance and responsibly planned operations ensure the reliability and sustainable development of ambitious real estate projects, therefore I have decided to increase my ownership interest in MG Valda,’ Mockus said.
Mockus has confirmed that the company’s investment plans remain unchanged. A record investment of EUR 74 million in real estate development projects alone is planned in 2018. Sigita Survilaitė-Mekionienė will continue in the position of the director general of MG Valda.
The share acquisition contract was signed in March and the transaction will be completed in the near future.
MG Valda is one of the largest real estate management and development companies in Lithuania, which includes more than 20 companies involved in real estate activities, a group of sports and wellness companies and hotel management companies.