Investment company Lewben Investment Management has failed in its attempt to appeal against an unfavorable ruling by a government commission in Lithuania regarding a transaction involving the Verslo Trikampis office complex.
Verslo trikampis, Vilnius

Vilnius Regional Administrative Court on Thursday rejected the company's appeal, Sigita Jacinevičienė-Baltaduonė, spokeswoman for the court, told BNS Lithuania.

"The appeal was rejected as unfounded. The government commission's appealed conclusions stated that the request to buy 100 percent of the investment company's shares does not match national security interests. The court believes the commission's decision is well-founded and lawful and made in accordance to the law", she said.

In her words, the law states that a potential participant is declared as matching national security interests if they don’t have links with institutions and citizens of countries outside the EU and NATO that might raise risks or pose threat to national security.

The court ruling might be appealed to the Lithuanian Supreme Administrative Court within a month.

Lewben Investment Management planned to acquire Prosperus Real Estate II, a closed-end investment company for informed investors, which has been renamed LIM Verslo Trikampio NT Fondas.

Taking into consideration information from the State Security department, the government Commission for Assessment of Conformity of Potential Participants of Enterprises of Strategic or Considerable Importance to National Security to the Interests of National Security blocked the deal last fall.

Based on data from the Center of Registers, Rita Kavaliauskienė is the sole shareholder of Lewben Investment Management.

BNS
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