Novaturas attracted a strategic investor - it intends to acquire 33% of shares

Novaturas Group, which earlier this week announced plans to attract a strategic partner to expand its operations, informs that the company's shareholders have concluded a contract with a new investor. Under the signed binding agreement, which is intended for the conclusion of the main contract, shares from four existing shareholders of Novaturas are planned to be acquired by Neset Kockar, a well-known Turkish tourism businessman and investor, who owns businesses in international aviation, real estate, tourism, and other industries. 

"The arrival of a strategic investor is an important step in the growth of Novaturas Group, opening up new expansion opportunities. This synergy with our new shareholder's businesses will enable us to develop integrated travel solutions, ensuring even more attractive offers to our customers – from the widest range of travel destinations to exclusive hotels, competitive prices, and other benefits. Furthermore, it will help to strengthen our company's financial capacity and develop other innovative projects, ultimately enhancing customer experiences and reinforcing our competitive advantages," says Kristijonas Kaikaris, CEO of the Novaturas Group.

"I see the partnership and investment in Novaturas as opening up a range of mutual opportunities. Novaturas is a strong, trusted brand, and by combining our capabilities we can think of even more innovative solutions and values for Baltic travellers. I am confident that our long-standing experience will help us to develop further services that ensure quality and diversity of selection," comments N. Kockar.

Neset Kockar has founded and managed various companies in hotel operations, aviation, real estate, and other tourism related fields. He is also the founder and Chairman of Anex Tourism Group. It is one of the leading companies in the global travel industry, serving millions of travellers annually in more than 50 destinations worldwide. The company owns and manages brands such as Neckermann, Bücher, Öger Tours, MGA Airlines, Selectum Hotels, Asteria Hotels, Utopia Hotels, Rubi and others.

It is planned that, despite the forthcoming changes in the shareholder structure, the well-known Novaturas brand, which has earned the trust of travellers on the local market for more than 25 years, will continue to be developed independently.

It should be recalled that at the beginning of March, Novaturas announced plans to launch a new securities offering to attract strategic investors. The company's management also immediately informed that the negotiations with potential investors were already underway and aimed to be completed as quickly as possible.

It has been agreed with the new investor that he will acquire the shares not through a new issue of Novaturas securities, but from existing four shareholders, who currently own the shares – Ugnius Radvila, Rytis Šumakaris and Vidas Paliūnas, as well as UAB Willgrow.

The acquisition of shares will be carried out in two phases. The first stage is expected to be finalized within a few weeks, while the second will take place following the completion of due diligence, which is usual for this type of transaction, and other required procedures. Upon completion, the new investor would hold up to 33.2% of Novaturas Group shares.

The company will provide updates on the progress of these stages through separate stock exchange notices, in accordance with legal requirements.

Novaturas also informs that the transaction structure agreed with the investor does not currently include a new issue of the company's securities. Therefore, the Extraordinary General Meeting of Shareholders scheduled for 26 March is no longer relevant for the consideration of this issue. The Board of Directors of the Company will consider its possible cancellation in the near future and will announce its decision by a separate announcement through the stock exchange. Should the issue of securities be considered again in the future, the company's management would make proposals to shareholders accordingly. 

Novaturas is being advised by the the financial advisory firm Superia, with which the company has conducted an analysis of strategic alternatives. 

About the company

Novaturas Group is the only local charter tour operator in the Baltic States with more than 25 years of experience. The company offers summer and winter recreational, sightseeing, exotic, skiing, workation and group trips to many destinations worldwide. According to unaudited data, in 2024, Novaturas Group recorded revenues of EUR 201 mln. and served 239 thsnd. passengers in Lithuania, Latvia and Estonia.

For more information:

Darius Undzėnas

CFO