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Lithuania's Civinity invests in Latvia
BC, Vilnius, 09.08.2016.
Print version
Print versionCivinity, a Lithuanian group that provides administration and maintenance services for households and other types of buildings, is strengthening its position in Latvia through the acquisition of Hausmaster, Riga's biggest privately-owned apartment block maintenance company, and HomeMaster, a smaller company, according the Vz.lt news website writes LETA/BNS.
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The deal, which was co-funded by Citadele Bank, was closed in late July. Its value has not been disclosed.
This brings to 14 the total number of house administration and maintenance services companies owned by the Civinity Group in Lithuania and Latvia, including Jurmalas Namsaimnieks, which it purchased in 2014.
Civinity plans to convert itself into a public company this year in preparation for floating its shares on the stock exchange, but it will not debut on the stock market until 2017 at the earliest.
The group is owned by Estonia's Civinity.
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