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Investment fund injects €30M in Lithuanian cardboard producer
INVL Baltic Sea Growth Fund, the largest private equity investment fund in the Baltic States, has agreed to invest up to €30 million into the cardboard business of Lithuania’s Grigeo group.
“Under this agreement, up to 49.99% of Grigeo Investicijų Valdymas shares, a company owned by Grigeo, will be acquired by BSGF Salvus, a subsidiary of the fund, in two phases. The transaction is to be completed upon the fulfillment of contractual terms and conditions, subject to the permission issued by the Competition Council,” Grigeo said in a state-ment.
In the second phase of the deal, an additional investment of €15 million is to increase the stake of Grigeo Investicijų Valdymas, owned by BSGF Salvus, to a stake of 49.99% for INVL Baltic Sea Growth Fund, the state-ment said.