East Capital Explorer is to terminate its investment agreement with East Capital and become an independent investment company.
East Capital Explorer is acquiring East Capital’s shares, representing 96 per cent of the formerly jointly owned holding company.
The compensation for the control shares and certain other obligations amounts to EUR2 million according to the termination agreement.
East Capital Explorer’s investment team, led by Kestutis Sasnauskas, has been strengthened with four employees who have experience from investments in Eastern Europe, most recently within East Capital.
With the new organisation in place, the company has moved its headquarters and operations to new premises in Stockholm and thereby no longer shares offices with its former investment manager East Capital.
“This was the last decisive step towards our goal of becoming an independent investment company. It means that we now stand on our own feet with an investment team, our own offices and full control of the investment portfolio. Our focus now is on the portfolio and value creation, and we will also ensure to lower our costs as promised,” says Mia Jurke, chief executive of East Capital Explorer.
