The bank, which was Alita Group's biggest creditor, took over control of the financially-troubled alcohol producer last fall. However, immediately afterwards, Cypriot-registered Plass Investments, a minority shareholder, contested in court all decisions related with the takeover and a buyout offer.
The Kaunas Regional Court's decision to freeze the shares took effect immediately, but it can be appealed within seven days to the Lithuanian Appeals Court, Skirmantė Zelenkienė, the court's spokeswoman, told BNS.
FR&R Invest owns 84.4 percent of Alita Group and Junevičius holds a 14.5 percent stake.
2012-05-17 11:24
Lithuanian court freezes Alita shares held by FR&R Invest and Vytautas Junevičius
A court on Wednesday placed a freeze on a combined stake of 98.9 percent held by FR&R Invest, a company owned by Sweden's Swedbank Group, and Vytautas Junevičius in the alcohol production group Alita, the court's spokeswoman said.
Alita / Eriko Ovčarenko / BNS nuotr.
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