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Thursday, 25.04.2024, 09:25
Bagavicius buys Avia Solutions Group, wants to be active shareholder
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Bagavicius told BNS Lithuania that the Cyprus-based company Haifo he indirectly controls had bought 10.18% of Avia Solutions Group shares for almost 2.4 million euros from the group's passive shareholder VGE Investments.
"I joined the Avia Solutions Group's management team last September. I personally think the influence of active shareholders on the company should grow and, therefore, I was looking for possibilities to buy shares, and this is what I did," Bagavicius said.
He said he didn’t want to buy shares on the market as such a transaction would have had impact on the prices of shares. He said the price he paid for his shares was below the market value, and own and borrowed money were used for the deal.
The price of Avia Solutions Group shares on Warsaw stock exchange stood at around 14.35 Polish zloty (3.35 euros) on Tuesday, and the whole company was valued at 111.61 million zloty (26.07 million euros).
Haifo also has an around 20% stake in aircraft leasing and trade company AviaAM Leasing, also controlled by Ziemelis.
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