OÜ River Kinnisvara, St Elmar Invest OU and Evgeni Plamenov Vasilev completed the acquisition of Arco Vara Kinnisvarabüroo AS and Arco Imoti EOOD from Arco Vara AS.
January 01, 2019
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OÜ River Kinnisvara, St Elmar Invest OU and Evgeni Plamenov Vasilev agreed to acquire Arco Vara Kinnisvarabüroo AS and Arco Imoti EOOD from Arco Vara AS (TLSE:ARC1T) for €0.3 million on November 1, 2018. Arco Vara Kinnisvaraburoo AS was acquired in equal parts by St Elmar Invest OU and OU River Kinnisvara. St Elmar Invest OU is controlled by Elari Tamm, a member of the management board of Arco Vara Kinnisvaraburoo AS. Arco Imoti EOOD was acquired fully by Evgeni Plamenov Vasilev, a long-term manager of Arco Imoti EOOD. Following acquisition, Arco Vara Kinnisvarabüroo AS and Arco Imoti EOOD will continue to operate under Arco Vara trademarks. The sold companies had a combined revenue of €2.3 million in 2017. The transaction is expected to be completed on January 1, 2019. During the last periods, both companies have been operating close to zero results, therefore their separation will not have a significant effect on the Arco Vara's profit, assets and obligations.
OÜ River Kinnisvara, St Elmar Invest OU and Evgeni Plamenov Vasilev completed the acquisition of Arco Vara Kinnisvarabüroo AS and Arco Imoti EOOD from Arco Vara AS (TLSE:ARC1T) on January 2, 2019.
Arco Vara AS is an Estonia-based company active within the property industry. The Company focuses on the building construction, civil engineering, special engineering and real estate services. Its business consists of three segments: Development segment, which is engaged in the development of residential and commercial environments, as well as long-term investment in real estate; Service segment, which is involved in the real estate brokerage, valuation and management, and short-term investment in real estate, and Construction segment, which provides general and sub-contracting in the field of general construction, civil and environmental engineering, and construction supervision services. Arco Vara AS has numerous subsidiaries, including Arco Lozen EOOD, Acro Invest EOOD, and Acro Real Estate SIA. The Company operates in Estonia, Latvia and Bulgaria.
OÜ River Kinnisvara, St Elmar Invest OU and Evgeni Plamenov Vasilev completed the acquisition of Arco Vara Kinnisvarabüroo AS and Arco Imoti EOOD from Arco Vara AS.
ARCO VARA 
