aA
Vilniaus Prekyba Group shareholder Žilvinas Marcinkevičius has sold his 15% stake in the company to its majority shareholder Nerijus Numavičius after a court rejected an injunction request.
Nerijus Numavičius now owns about 75% of Vilniaus Prekyba Group
Nerijus Numavičius now owns about 75% of Vilniaus Prekyba Group
© DELFI / Mindaugas Ažušilis

Bertina Holdings Limited, owned by Numavičius and five other shareholders, took over Marcinkevičius' shares in 15 companies of the group which manages Lithuania's biggest supermarket chain Maxima as well as Eurovaistinė pharmacies, Akropolis shopping malls, and building materials retailer Ermitažas.

Julius Numavičius, brother of Nerijus, earlier asked a court to stop the deal, arguing that it should not go through before other legal battles among Vilniaus Prekyba shareholders were resolved. However, the Vilnius court rejected the request.

Verslo Žinios reports that Marcinkevičius was offered €141.9 million for his stake in 13 of the 15 companies. The total worth of the deal could have been up to €160 million, according to Verslo Žinios. However, Mindaugas Marcinkevičius, another shareholder in the group, has told the court the nominal worth of the shares was at least twice bigger.

Diana Dominienė, Lithuanian head of Bertona Holdings Limited, said in a statement that other factors influenced the worth of the deal, like the relatively small size of the stake and its limited liquidity.

Nerijus Numavičius has been involved in legal battles with Mindaugas Marcinkevičius over previous deals within the group.

After Žilvinas Marcinkevičius has sold his stake in Vilniaus Prekyba Group, six shareholders remain. Verslo Žinios estimates that Nerijus Numavičius now owns about 75% of the group, Mindaugas Marcinevičius and Vladas Numavičius each have 9%. The three remaining shareholders - Ignas Staškevičius, Mindaugas Bagdonavičius and Gintaras Marcinkevičius - own some 2% of the shares each.

Darius Nedzinskas, Renatas Vaitkevičius and Julius Numavičius had previously divested from the group.

|Populiariausi straipsniai ir video

First complaint from business over lockdown restrictions reaches court (1)

Lithuanian business representatives on Wednesday lodged a complaint before a court seeking remedy...

Air Baltic launches flights from Vilnius

Air Baltic launched flights between Vilnius and the Croatian resort of Dubrovnik on Monday.

Lithuania gives the green light to large-scale investors with sweeping reforms (1)

The Parliament (Seimas) of the Republic of Lithuania has adopted a package of investment and corporate...

Maritime cluster has been founded in Lithuania

The business and educational organizations in Klaipeda are joining forces to develop the Lithuanian...

Public authorities getting closer to compromise on natl development bank

Lithuania’s public authorities are getting closer to a compromise on the establishment of a...

Top news

Media watchdog bans Russian broadcaster RT (1)

The Radio and Television Commission of Lithuania (LRTK) on Wednesday banned Russia's broadcaster RT...

First complaint from business over lockdown restrictions reaches court (1)

Lithuanian business representatives on Wednesday lodged a complaint before a court seeking remedy...

Self-isolation required for arrivals from 58 worst hit countries

The Ministry of Health has updated the list of countries most affected by coronavirus infection...

10 new coronavirus cases

On Tuesday, 10 new COVID-19 cases were confirmed in Lithuania. All of them imported or from already...

Vilnius centre becomes art gallery

Lithuanian capital Vilnius has turned its centre into an open-air art gallery . The outdoor...

|Maža didelių žinių kaina