Ice broken: 'Hanner' and 'BaltCap' reached an agreement on the National Stadium

2025-06-26 13:33 © „Vilnius“

The National Stadium project in Vilnius seems to be gaining momentum again.

According to "Verslo Žinios," the real estate development company "Hanner" and the investment firm "BaltCap" have reached an agreement regarding the sale of shares in the National Stadium complex concession company.

Arvydas Avulis, the chairman of the board of "Hanner," assured "Verslo Žinios" that negotiations had been completed for the purchase of shares in the company "Venetus Capital," which owns the concession of UAB "Vilniaus multifunctinal complex," along with all other additional terms.

With over 1.5 million euros invested in the construction of the National Stadium complex, the project-implementing company UAB "Vilniaus multifunctinal complex" deepened its losses by another 0.55 million euros in 2024. Financial statement auditors noted that the company's equity is negative, and there are also uncertainties regarding the company's continuity of operations.
UAB "Vilniaus multifunctinal complex" reported receiving 0.3 million euros in revenue last year, which is 95% less than in 2023 (which was 5.8 million euros). The company incurred a net loss of 0.55 million euros (0.549 million euros in 2023).

At the end of last year, the company had accumulated 1.48 million euros in undistributed losses.