INVL Baltic Sea Growth Fund invests up to €30 million into cardboard manufacturing business managed by Grigeo AB

INVL Baltic Sea Growth Fund, the largest private equity investment fund in Baltic States, is investing up to €30 million into Grigeo cardboard business, a leading paper and wood industry company for the Baltic region. Under this agreement, up to 49.99% of Grigeo Investicijų Valdymas shares, a company owned by Grigeo, will be acquired by BSGF Salvus, a subsidiary of the fund, in two phases. The transaction is to be completed upon the fulfillment of contractual terms and conditions, subject to the permission issued by the Competition Council.

INVL Asset Management’s comment regarding decision by the Bank of Lithuania

The Bank of Lithuania has adopted a decision to levy on INVL Asset Management a fine for infringements related to the distribution of mutual funds and a warning for other deficiencies related to the provision of investment services and investment fund management activities. It should be noted that this decision is not related to the areas of pension funds or alternative investments. The Bank of Lithuania adopted the above-mentioned decisions after performing a scheduled inspection of the company.  The asset management company INVL Asset Management stresses that in providing asset management services it is guided by legislation and strives to deliver quality asset management and investment services.