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SSPC assets change hands

Anna Pakulniewicz 19 March 2015

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

SSPC assets change hands
Banginis retail park in Vilnius belongs to SSPC.
LITHUANIA Owners of the Senukai group have restructured one of its subsidiaries, the SSPC retail asset management company, and sold off some of the SSPC assets, the Lithuanian online portal vz.lt informed.
SSPC owns properties with a total space of 170,000 sqm. Most of the portfolio is leased to Senukai, while the remaining assets are leased to other retail and services companies. SSPC owns such retail centres as Baltic Shopping Centers, the Mega retail and entertainment centre in Kaunas and the Banginis retail parks in Vilnius and Klaipėda.

According to vz.lt, the sale was transacted between December 2014 and February 2015. Before that time 65.8 pct of the SSPC shares belonged to Augustinas Rakauskas, one of the richest businesspeople in Lithuania. Yet he passed them to his son and the company’s second shareholder, Artūras Rakauskas, so he could become SSPC’s only shareholder in exchange for some of the company’s assets. Artūras Rakauskas is also a president of one of the shopping malls that belongs to the group - Senukų prekybos centras and holds 20 pct. of its shares.

The value of the company SSPC itself was decreased by the value of the real estate taken over by the former main shareholder. The value of the assets that belong to Rakauskas family did not change after the transaction, though.


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