However, the company does not project when the land it owns could be sold – its sale has not been included in the company’s restructuring plan, hence Agrowill Group is inclined to wait for a suitable offer.
Agrowill Group has been seeking to sell some 12,000 hectares of land, which are managed by more than 20 land development funds, since 2009, the portal reports.
A land portfolio of this size in a single area was unique in Eastern and Central Europe, Agrowill Group chairman Vladas Bagavičius said, adding that the company, therefore, sought to obtain the highest price and return. The portfolio is now worth more than 100 million litas, based on the price of farm land. Agrowill Group wants to sell the land to a single buyer.
The land portfolio offered by Agrowill Group is big but Invalda, Lithuania’s leading investment company, is not considering the offer, according to Dalius Kaziūnas, president of Invalda, which has been investing heavily in farm land.
In total, Agrowill Group owns and uses 32,000 hectares of land, including 12,800 hectares of own land.
