Icor-controlled City Service, the leading Baltic property maintenance and administration services group, is buying ZZN from the Polish Defense Ministry.
City Service makes it clear that listing on the Warsaw bourse is part of its plans in Poland, the paper wrote.
City Service Žilvinas Lapinskas would not disclose if the company wants to offer a new share issue in Warsaw or will seek to be cross-listed on the Polish stock exchange
The value of the ZZN deal is not being disclosed at the moment, but analysts say that it is unlikely to exceed 50 million litas (EUR 14.5m).
Tadas Povilauskas, a Finasta analyst, said that the price that City Service will pay for ZZN will be relatively high, but added that the company has proved many times that it is able to use its know-how and reorganize inefficiently operating privatized companies.
However, the analysts noted that some investors will view the deal with caution, because the market has not forgotten City Service's rather complicated expansion in Russia.