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
© 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.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Lithuania's budget gets EUR 4 mln of "nobody's money" after FNTT probes

4 million euros, officially recognized as having no owner, have been transferred to the state budget...

Lithuanian govt hopes papal visit will encourage religious tourism

Lithuania's government hopes the upcoming papal visit will encourage religious tourism in the country...

Lithuania ahead of Latvia, Poland, but behind Estonia on social progress index

The social environment in Lithuania is better than in Latvia and Poland, but worse than in Estonia,...

PM to invite European retailers to invest in Lithuania

Lithuanian Prime Minister Saulius Skvernelis says he plans to invite 12 European major retail chains...

Akmenė awaiting ground-shaking investment

Lithuania's northern district of Akmenė barely lags behind other cities in Šiauliai County in terms...