The company previously informed that in March it attracted a strategic investor - Turkish tourism sector businessman and investor Neset Kockar, who manages international aviation, real estate, tourism and other businesses. In April, the first stage of the transaction was successfully completed, during which N. Kockar acquired 23.2% of the company's shares from three individual shareholders.
The transaction parties planned to complete the second stage of the transaction by autumn, after which N. Kockar would control 33.19% of Novaturas shares. However, the company received information that the second stage of the transaction is being terminated according to the terms of the concluded agreements, and the transaction parties will continue negotiations regarding new agreement terms.
The exact date by which a new agreement may be reached is currently unknown. It should be noted that attracting the strategic investor strengthens the company's financial position and reliability - N. Kockar provided Novaturas with a €1 million loan, which was later expanded to €2 million, and agreements with financial and insurance institutions were also reached.
About the company
Novaturas Group is a tour operator in the Baltic States with more than 25 years of experience, offering the widest range of destinations. The company offers summer and winter leisure, sightseeing, exotic, skiing, workation and group trips in many destinations worldwide. According to audited data, in 2024 Novaturas Group recorded €201 million in revenue and served 239,000 passengers in Lithuania, Latvia, and Estonia.
For more information:
Aukse Kriauciunaite
Interim CFO
+370 630 37367
