The group is looking for investor in Rietavo Veterinarinė Sanitarija, which could help the company expand in CIS countries.
Arvi is ready to give 49 percent of Rietavo Veterinarinė Sanitarija to the investor and to issue new shares for this purpose. The group has already found several potential investors with the help of Swedbank’s Lithuanian corporate finance unit but no deals are envisaged for the meantime.
Rietavo Veterinarinė Sanitarija was added to Arvi group at the end of 2002. In 2007, the company acquired Latvia’s animal waste collection company Reneta. The company claims to hold 75 percent of Lithuania’s market and 60 percent of Latvia’s market.
Annual revenues of Rietavo Veterinarinė Sanitarija do not exceed 10 million euros and its EBITDA is about 3 million euros.
Arvi has announced to potential investors that it would let a new shareholder join the company so that it could expand in CIS countries actively.
2012-05-03 11:18
Lithuania‘s Arvi looking for investor in animal waste disposal business
Lithuania’s Arvi group, which intends to develop sugar business together with Germany’s Pfeifer & Langen starting this fall, has worked out a similar scenario for another subsidiary – animal waste disposal company Rietavo Veterinarinė Sanitarija, the news portal eversus.lt reports.
Cows / „Reuters“/„Scanpix“ nuotr.
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