Small shareholders of Achema Group, Lithuania’s biggest fertilizer producer, have asked court to force the company to buy out their 25% stake in the company.
The small shareholders, who have failed to agree with the company’s majority owner Lyda Lubienė, want €150 million for their shares.
Tadas Kaminskas, representative for Marija Kaminskienė who owns a 7% stake in the group, has told Verslo Žinios there is a precedent for the demand.
“Last week, the court accepted the lawsuit from several small shareholders: the Žadeikai family, Jonas Sirvydis, my mother Marija Kaminskienė, Tautvydas Misiūnas,” Kaminskas said.
“They turned to court over violation of their rights when the group was buying out its shares and created exclusive conditions for another small shareholder, Faustuas Kriaučionis, to sell his stake.”
Achema Group has enough liquid assets to buy out the €150-million stake from its shareholders, Kaminskas added.