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MG Baltic company, MG Baltic investment and Extera Baltic plan to acquire 49.5 percent in equal shares. to acquire joint control over the shares of the company developing the “Third Swallow” project and together with the current shareholders – Gamaekspresas and 3K Investicijos.
“After evaluating the circumstances related to the transaction, the Competition Council concluded that the proposed concentration would not create or strengthen a dominant position or significantly restrict competition in the relevant markets,” notes the Competition Council.
According to data from the Records Center, the third swallow that develops the project in Western Bypass and Pilaitė Avenue belongs to the Gamaekspresas company (66.67% of the shares), managed by Ogmios Real Estate, and 3K Investicijos (33.33%), controlled by natural persons through other companies.
In January this year, Third Swallow shareholders decided to spend almost $ 5.95 million. convertible 1.49 million. bonds with a nominal value of 1.6 million euros. Extera Baltic will acquire 10% of them, for which 10% will be paid. annual interest. The vouchers will be exchanged with the permission of the Competition Council.
It has been announced that the new shopping center will have 150 points of sale, Rimi, 30 restaurants and cafes, a cinema and a sports club. According to the media, the real estate company Ogmios Real Estate, manager of Third Swallow, plans to invest 75 million LTL in the mall. euros
Center for 51 million. EUR is being built by Mitnija, a construction company managed by MG Baltic. The works are planned to be completed in March 2021.
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