Pigu Group seeks strategic investor

  • 2013-04-17
  • From wire reports
VILNIUS - Owners of Vilnius-based Pigu Group, the biggest Baltic online retailer by revenue, are seeking to sell as much as a 75 percent stake to investors to support further expansion, reports Bloomberg. Pigu, which forecasts 2013 revenue will increase by about 50 percent to about 130 million litas (37.6 million euros), began contacting potential strategic and financial investors in early April, board member Mykolas Majauskas said on April 5. KPMG Lithuania is advising.The online retail market in Lithuania, Latvia and Estonia is growing at about 30 percent a year due to the fastest e...
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