Lithuanian real estate development company Hanner, which is taking over the national stadium project in Vilnius, and investment company BaltCap have completed the transaction to acquire the shares of the project’s concessionaire, the Verslo Žinios news portal has reported.
Hanner Board Chairman Arvydas Avulis told the portal that on Wednesday, the buyer will pay BaltCap EUR 2.8 million—part of a EUR 6 million loan previously obtained by Vilniaus Daugiafunkcinis Kompleksas (Vilnius Multifunctional Complex), the stadium project’s concessionaire—and will acquire 98 percent of the shares in the concessionaire’s shareholder, Venetus Capital, for one euro.
“Now we will provide Vilnius City Municipality with all the necessary guarantees and letters confirming our financial capacity, as well as a financing letter from the bank. The amendment to the concession agreement will then come into force after indexation, and we will assume all the rights and obligations for implementing this project,” Avulis told the news portal.
BNS reported on Monday that Hanner has also finalized negotiations with construction company Naresta, which will build the main stadium, two football pitches, and install the primary engineering networks across the entire site for EUR 70 million.
According to Avulis, construction of the national stadium is set to resume within a week.
Source: BNS
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