Invalda INVL — M&A Activity 2011

Dec 15, 2011

Invalda acquired 36.9% of Litagra UAB shares for 38.6 mLTL (11.2 mEUR)

Invalda acquired 36.9% of Litagra UAB shares for 38.6 mLTL (11.2 mEUR)

Vilnius, Lithuania, 2011-12-15 08:40 CET (GLOBE NEWSWIRE) -- Cedus Invest UAB,
the company 100% owned by Invalda AB, has acquired 36.9 % shares of Litagra
UAB, one of the largest companies operating in the agricultural sector of
Lithuania, for 38.6 mLTL (11.2 mEUR), including the new share issue of Litagra
UAB of 37.1 mLTL (10.8 mEUR).

The share capital increasing of Litagra was closed on 15 December 2011, when
was receive a permission of the Competition Council.

After the transaction, the Chairman of the Board of Litagra Mr. Gintaras
Kateiva owns 37% of Litagra shares, Invalda Group - 36.9%, investment fund
Amber Trust II - 18%, Mr. Dziugas Grigaliunas and Mr. Adomas Grigaitis,
managers of Litagra Group, - 6.4% and 1.7% respectively.

Darius Sulnis, Vytautas Bucas, and Dalius Kaziunas, representatives of Invalda,
were elected as Members of the Board (consists of seven members) of the
company. Invalda AB has also signed the shareholders agreement regarding
management of Litagra.

During the three quarters of 2011 the consolidated sales of Litagra Group was
271.7 mLTL (78.7 mEUR), i.e. 17.5% higher than during period of the last year
(231.3 mLTL (67 mEUR)). EBITDA of Litagra Group during the appropriate period
has increased by 19% - from 16.3 mLTL (4.7 mEUR) to 19.4 mLTL (5.6 mEUR).

The companies of Litagra Group are engaged in the primary crop and livestock
(milk) production, grain processing and agricultural services. Group companies
trade in plant protection products, fertilizers, seeds, compound feed, feed
supplements, veterinary products. Moreover, companies trade grain, provide
drying of grain and other raw materials, cleaning, loading and storage
services. Group companies provide agricultural services in Lithuania, Latvia
and Estonia.

Litagra will be accounted as the associated company in the financial statements
of Invalda. Financial results of Litagra will be reflected in the financial
statements of Invalda starting 2012.

     The person authorised to provide additional information:
     Darius Sulnis
     President
     Tel. +370 5273 4876
     Email: darius@invalda.lt