VILNIUS - INVL Baltic Sea Growth Fund, the largest private equity investment fund for the Baltic region, managed by INVL Asset Management, part of the Invalda INVL group, is asking Lithuania's Competition Council for permission to indirectly acquire Latvia's Eco Baltia, the largest environment management group (plastic recycling and waste collection) for the geography in terms of net sales.
The competition watchdog says it received the fund's request last week.
The fund wants to buy 52.81 percent of Eco Baltia via BSGF Salvus. Following the transaction, the fund and Eco Baltia's existing shareholder, the European Bank for Reconstruction and Development, which owns 30.51 percent of the Latvian company, will gain join control of Eco Baltia.
Registered in Latvia, Eco Baltia is a holding company that owns 100 percent of Eco Baltia Grupa. Business entities linked to this group are engaged in the sale of secondary raw materials and recycled plastic products.