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Julius Numavičius, a shareholder of Vilniaus Prekyba group which owns Lithuania's biggest supermarket chain Maxima, has asked a court to block another shareholder, Žilvinas Marcinkevičius, from selling his stake in the company.
Maxima shareholder blocks sale of stake
© DELFI (R. Achmedovo nuotr.)

Marcinkevičius owns a 15% stake in the company which he wants to sell to Cyprus-based Bertona Holdings Limited, which is controlled by Vilniaus Prekyba's main shareholder Nerijus Numavičius.

Julius Numavičius argues that the deal should be put on hold until courts rule on a dispute among the company's owners on earlier deals in which Nerijus Numavičius took over the stakes of his two brothers Julius and Vladas.

Julius Numavičius says that the injunction is an attempt to get the company's shareholders work out their disputes and prevent future litigation.

"The so-called Vilniaus Prekyba ten [of original shareholders] has not been dismantled yet, there are disputes in courts and I am asked to testify. I believe that unless the ten shareholders sit down at one table, they will not be able to walk their separate ways. Our agreement was to part our ways under conditions acceptable to all. And this is my main argument - I want to work out a common agreement that would prevent future litigation," Julius Numavičius, who is currently based in the United States, told BNS.

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