JSC K2 LT signed an agreement under which 100% of the shares of the subsidiary company "Rekviem LT" and the farewell home, located in Kaunas, Jonavos str. 41A, were sold to a strategic investor. The total transaction value is 4 million euros.
"Rekviem" farewell home, which has been operating since 2021, was established with an investment of 1.5 million euros. Over the past five years, the company has become a stable and valued funeral service provider. Maximum operational efficiency has been achieved, so it is the right time to sell the business. The farewell home project in Kaunas generated more than 25 percent average annual return for the company "K2 LT".
Revenue from the sale of "Rekviem LT" and real estate will be directed to new development projects, as well as to the purchase of own shares, providing an opportunity for interested shareholders to realize their investments.
The transaction entered into force on the date of signing the agreement.
Bernardas Vilkelis
AB "K2 LT" CEO
bernardas@k2lt.lt