News

On May 14, 2019 City Service SE (further – Company) retained Superia Corporate Finance to conduct a review of strategic options regarding certain subsidiaries of the Company, operating in commercial facility management (UAB City Service Engineering and UAB Economus), fuel service station’s construction, it’s technical maintenance services (UAB Unitechna), cleaning of public spaces and commercial premises (part of UAB Mano aplinka), sewage collection, fat and oil traps service (UAB Mano aplinka plius), rental of bio toilets (UAB Toirenta), security and video surveillance services (UAB Mano sauga LT, UAB Mano Būsto sauga, UAB Algos saugos tarnyba, UAB Acta iuventus), catering services (UAB Voverės), marketplace administration services (UAB Konarskio turgelis, UAB Karoliniškių turgus, UAB Naujosios Vilnios turgavietė).

This review may result in a transaction or a series of transactions through which all or some of the above-mentioned subsidiaries would be sold to or merged with a third party, spun off, carved out or demerged from the Company. The Company will announce publicly, according to legal regulations, any material events regarding a possible transaction or series of transactions in due course.

The decision to launch this review was adopted in order to focus on the key strategic goal of the Company – concentration of Company’s core business – apartment buildings administration – in all active markets (Lithuania, Latvia, Poland, Spain, and Saint Petersburg) and its development in possible new countries. In year 2019, Company is planning to enter into apartment building administration market in Czech Republic and is active looking for strategic options regarding Slovakian market. Company’s strategic goal in new markets is to acquire approximately 300.000 new apartment building administration clients till the end of 2020, that for Company would result in total having 1 million individual apartment building administration clients in all markets.

 Artūras Gudelis

Chairman of the Management Board

+370 5 239 4900