Novaturas Group's Strategic Investor Update
In recent communications, Novaturas Group has provided updates regarding the second transaction stage with strategic investor Neset Kockar. Initially set to conclude in autumn, the parties involved have decided to halt the transaction. Kockar was expected to increase his shareholdings to nearly 33% through this agreement. However, the negotiations for an additional share package have now been officially discontinued.
Competition Authority Proceedings
It is important to highlight that the Lithuanian, Latvian, and Estonian Competition Authorities are currently assessing Neset Kockar's applications for acquiring a larger stake in Novaturas. These formal inquiries are ongoing, and it is anticipated that decisions from each authority will be made by the end of the first quarter of 2026.
About Novaturas Group
The Novaturas Group stands as a prominent tour operator in the Baltic region, offering a diverse array of travel options for over 25 years. Its services include summer vacations, winter getaways, sightseeing tours, and specialized trips such as workations and group journeys to numerous global destinations. In the year 2024, Novaturas Group achieved impressive revenue of EUR 201 million, catering to approximately 239,000 passengers across Lithuania, Latvia, and Estonia.
Contact Information
For further inquiries, please reach out to:
Auks? Kriau?i?nait?
Interim CFO
+370 630 37367
Frequently Asked Questions
1. What is the current status of the second transaction stage with Neset Kockar?
The second transaction stage has been officially discontinued, as negotiations for an additional share package have been halted.
2. When can we expect decisions from the competition authorities?
Decisions from the competition authorities in Lithuania, Latvia, and Estonia are expected by the end of Q1 2026.
3. How long has Novaturas Group been operating?
Novaturas Group has been providing travel services for over 25 years in the Baltic States.
4. What are the main services offered by Novaturas Group?
The company offers a wide range of travel options, including recreational, sightseeing, and exotic trips, as well as workations and group tours.
5. What were Novaturas Group's revenue figures in 2024?
In 2024, Novaturas Group recorded a revenue of EUR 201 million, servicing around 239,000 passengers.