Lithuania's Competition Council last Thursday received an application from Wurth Group's electrical goods trade company Elektrobalt to purchase a 100-percent stake in Gaudre.
According to data provided by the Center of Registers, 45% of Gaudre's shares are currently owned by Practica Venture Capital, a risk capital fund operated by private capital and investment company Practica Capital, 28.3% belong to Reda Mickeviciene and 26.7% to Vladas Rinkevicius.
In 2016, Gaudre's revenue stood at nearly 4.3 million euros, posting a net profit of 221,100 euros.
Elektrobalt's turnover last year totaled at 24.1 million euros and net profit was at 314,400 euros. The company is 100-percent owned by Germany's Fega & Schmidt Elektrogrosshandel.
The Wurth Group includes over 400 companies in more than 80 countries. In Lithuania, the group's companies are involved in retail sale of electrical installation, mounting materials, chemical products and devices, as well as circuit boards.
