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Latvian Shipping Company sells House of Press for 16.8 million euros

Image: youtube.com.
Latvian Shipping Company’s subsidiary LASCO Investment has sold House of Press to PN Project, which is managed by Lithuanian real estate and private capital company Lords LB Asset Management. The total value of the deal is EUR 16.8 million, as reported by LSC.

«As a socially responsible company we are delighted that House of Press has been acquired by a company with significant real estate experience and we very much look forward to witness the redevelopment of the site over the coming 5-10 years,» explains LSC Chairman Robert Kirkup.

Latvian Shipping Company’s largest owner is Vitol Group with 69.56% of shares.

BNN had previously reported that LSC performs cargo transports around the world, trains professional crew and offers technical management to owned and partner ships. The company is also listed on the Nasdaq Riga.

Lords LB Asset Management is an investment management association licensed by the Bank of Lithuania. The company offers services to institutional and private investors since 2008. Lords LB Asset Management is responsible for 13 foundations, including eight real estate funds, three private capital funds and two energy and infrastructure funds. The value of the company’s managed funds was EUR 310 million at the end of December 2016.


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