Lithuanian businessman Mindaugas Marcinkevičius, a minority shareholder in the company that operates the country's biggest grocery chain Maxima, is to go to the Luxembourg courts to contest a €90-million loan at below-market interest rates that the company extended to Luxembourg-registered businesses owned by another shareholder.
The Swedbank group is the highest-valued company in the Baltic states. The company's worth grew 22 percent over the last year to reach EUR 3.9bn. It tops the list of the ten highest-valued companies in Lithuania, Latvia and Estonia.
The private holding company Vilniaus Prekyba UAB, one of the largest Lithuanian groups of private companies and owner of the international retail chain Maxima, has rejected reports in the media that the company is using tax evasion schemes.