Lietuvos Energija is selling the Transport Business of NT Valdos

Lietuvos Energija, a state-managed energy utility holding, continues refining its operations and on July 28 initiated the sales of NT Valdos transport services business. NT Valdos is one of the largest asset management companies in Lithuania.

 

"Over the last six years, NT Valdos has succeeded in creating an efficient and successful transport services business. With the launch of sale, we expect to attract a lot of interest from potential investors. After successfully completing the transaction, we plan to invest the proceeds in our core activities – further development of the energy business," - says Dalius Misiūnas, CEO of Lietuvos Energija. 

 

Lietuvos Energija expects to close the deal by the end of 2017. 

 

NT Valdos, a part of the energy Group, is managing a large-scale transport fleet – more than 2,000 different class passenger cars, special purpose vehicles and machines. 

 

Half of the total fleet items are leased to the market and the remaining vehicles are leased to Lietuvos Energija Group entities that use the vehicles servicing power and gas distribution networks and power plants. 

 

Majority of the lease agreements concluded by NT Valdos are long-term. Asset management business covers 7 regions of Lithuania, where Vilnius and Kaunas generate the most revenue. NT Valdos offers full scope of transport management services, including vehicle maintenance, insurance, and technical service.