Lithuanian Breeding Farm at the auction of Turto bankas, starting price - EUR 1.6 million
Turto bankas Turto will try to sell 98.95% of the shares in the state-owned livestock seed company „Lietuvos veislininkystė“ for an initial price of EUR 1.6 million.
The stake will be auctioned on 18 September, Turto bankas said on Monday.
According to Audrius Karnišauskas, the director of „Lietuvos veislininkystės“, the company's work is proceeding normally, and there are plans to expand its team.
„The change of shareholder does not affect the company's operations and our objectives (...). We see the potential, so we are expanding our team and plan to invest in modern technological solutions," Karnišauskas said in a statement.
According to Turtos bankas, the proceeds from the sale of the shares will be transferred to the state budget.
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