Important Share Transaction Announced by Novaturas Group
AB Novaturas has recently made headlines with a significant development involving Ugnius Radvila, a dedicated member of the Company's Management Board. On an important day, a binding agreement was reached for the impending sale of shares, reflecting the dynamic nature of the tourism sector.
Details of the Agreement
Mr. Radvila has decided to sell 740,702 shares in Novaturas, transferring these interests to Neset Kockar, a prominent figure in the Turkish tourism industry. While the financial terms remain confidential for now, this agreement marks a critical step toward finalizing the main contract.
Involvement of Other Shareholders
Additionally, the journey towards this sale has seen participation from four other shareholders, including Rytis Šumakaris, Vidas Pali?nas, and UAB Willgrow. Together, they signed this agreement, further solidifying a cooperative approach to enhance shareholder value.
Phased Acquisition Process
The share acquisition will unfold in two distinct phases. The first phase is expected to conclude shortly, demonstrating swift progress in this transaction. Following this, a customary due diligence process will be conducted to ensure all necessary protocols are met, paving the way for a seamless second phase.
Impact on Shareholding Structure
Upon completion, this deal will allow the new investor, Mr. Kockar, to possess up to 33.2% of Novaturas Group's shares. This shift represents a notable adjustment in the ownership structure, likely bringing new strategic insights and collaboration opportunities.
Future Communication
As this agreement evolves, Novaturas is committed to keeping stakeholders informed. Further updates regarding the agreement execution and the advancement of acquisition stages will be communicated through official announcements, ensuring transparency and engagement with the market.
About Novaturas Group
Novaturas Group stands out as the only charter tour operator in the Baltic States, backed by over 25 years of industry experience. Specializing in a wide range of travel experiences, including summer and winter recreation, sightseeing, and group trips, the company serves diverse tourist needs. With a reported revenue of EUR 201 million in 2024, Novaturas played a key role in serving 239 thousand passengers across Lithuania, Latvia, and Estonia.
Contact Information
For further inquiries, please reach out to:
Darius Undz?nas
CFO
+370 678 05749
Frequently Asked Questions
What is the purpose of the share sale between Mr. Radvila and Mr. Kockar?
The share sale aims to facilitate Mr. Radvila's transition of ownership while enhancing the strategic direction of Novaturas Group.
How will this acquisition affect Novaturas' operations?
With Mr. Kockar’s involvement, Novaturas Group may see fresh investment and strategic input, potentially leading to expanded operations and offerings.
When is the expected completion of the phase one acquisition?
The completion of phase one is anticipated within a few weeks, depending on the progression of ongoing agreements and procedures.
What is the background of Novaturas Group?
Novaturas Group has established itself as a leading charter tour operator in the Baltic region, offering diverse travel experiences for over 25 years.
Is the financial value of the transaction disclosed?
No, the value of the transaction has not been disclosed at this stage as the main contract is still in the finalization process.
