The transaction includes (1) Klaipeda Business Park (KVP) – a 24,000m2 Industrial, commercial and office park with 27 tenants in the Klaipeda free economic zone, (2) Liepu Parkas – a 36,000m2 strategical located land plot and (3) UAB BNTP – a management company providing a full range of real-estate and construction services with 9 employees.
The board and management consider the transaction as another step to becoming the preferred industry partner and leading real-estate developer/investor in the region.
“Baltic Sea Properties has a strategy to expand its operations, services and portfolio of assets by developments and acquisition. This acquisition is in line with that strategy and our commitment to provide value added real-estate solutions for our local and international partners and superior returns with stable dividends for our shareholders. The transaction also includes a highly experienced team of professionals which brings vast experience within construction, real estate development and asset management. We welcome BNTP team into BSP Group and look forward to working together” says BSP CEO Lars Christian Berger.
Details on transaction:
The transaction is completed by BSP acquiring all shares in four subsidiaries of Baltic Equity Group UAB for a total purchase price of MEUR 9.85 million (Equity + shareholder loans). The underlying assets in the transaction is valued at MEUR 17.
The main shareholder in Baltic Equity Group UAB is the current chairman of BSP James Andrew Clarke. The pricing of the acquired properties is done according to arm’s length principle, with price based on valuations from two independent and reputable valuators.
Lars Christian Berger
tel. 930 94 319