PRINT THIS PAGE CVC International completes one of the biggest ever private equity deals in Baltics 17/12/2004. Source: AltAssets. 
 Citigroup Venture Capital International, part of Citigroup, has completed one of the largest private placement done to date in the Baltics with its €40m investment in Lithuanian grocery chain IKI. The transaction is also one of the biggest in the retail sector in Central & Eastern Europe.
UAB Palink, the Lithuanian operator of the IKI supermarket chain, the Ikiukas convenience stores and the Pigiau Grybo discount stores, has signed definitive documentation following which CVC International will acquire a significant minority stake in the company.
The total transaction size is €40m. Palink will use proceeds from the share issue to expand its retailing operations in Lithuania and the Baltics.
Sunil Nair, managing director at CVC International, said, 'We are delighted to invest in Palink. This provides the company with a solid institutional shareholder base to assist its future growth and development. We believe CVC International's investment to be a very positive milestone in Palink's history.'
CVC International is part of Citigroup Alternative Investments and manages Citigroup's private equity investments in developing markets.
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