Business
Ignitis Group has agreed to sell 49% of its shares in Vilnius CHP
AB “Ignitis grupė“ (hereinafter – the Group) informs that on 24 February 2026, as part of its asset rotation program and in order to ensure proper implementation of the decision of the European Commission (hereinafter – the EC), it has agreed with Quaero European Infrastructure Fund III, a fund managed by Quaero Capital SA (hereinafter – Quaero Capital), on the sale of a 49% stake in UAB Vilniaus kogeneracinė jėgainė (hereinafter – Vilnius CHP) managed by the Group. This is one of the largest fo
About this update from Ignitis Grupe Ab
[{"type":"image","alt":"Ignitis grupe","displaySize":"","headline":null,"caption":"Ignitis grupe","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":145,"url":"https://media.zenfs.com/en/globenewswire.com/97aa8771a4fc799ba3e227d0f52cb363"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fWm9vMxu2t3OyjYfVy3IXw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIwMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/97aa8771a4fc799ba3e227d0f52cb363","width":300,"height":145}},"lazy":false},{"type":"text","content":"AB “Ignitis grupė“ (hereinafter – the Group) informs that on 24 February 2026, as part of its asset rotation program and in order to ensure proper implementation of the decision of the European Commission (hereinafter – the EC), it has agreed with Quaero European Infrastructure Fund III, a fund managed by Quaero Capital SA (hereinafter – Quaero Capital), on the sale of a 49% stake in UAB Vilniaus kogeneracinė jėgainė (hereinafter – Vilnius CHP) managed by the Group. This is one of the largest foreign direct investments in Lithuania over the last few years.","length":562,"tagName":"p"},{"type":"text","content":"Quaero Capital SA is an independent fund management company with headquarters in Geneva and offices in Paris, Zurich, Luxembourg and London. Quaero Capital manages EUR 3.8 billion of assets notably in energy, water, social, digital, telecom and transportation projects throughout Europe, including the Baltic States. Quaero Capital is a long-term infrastructure investor backed by key institutional investors such as pension funds, insurance companies, and the European Investment Bank.","length":486,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement, the value of 100% of Vilnius CHP‘s equity amounts to EUR 244 million. The value of 49% of Vilnius CHP's shares acquired by Quaero Capital amounts to EUR 120 million. It consists of EUR 110 million fixed and EUR 10 million conditional (earn-out) payment, which depends on Vilnius CHP performance. In total, the Group has invested EUR 52 million into Vilnius CHP equity. After the completion of the transaction, the Group will continue to retain control of Vilnius CHP, holding 51% of the shares.","length":532,"tagName":"p"},{"type":"text","content":"The Group also informs that on the basis of the cooperation agreement signed on 29 May 2017 between Viln...