ECEX sells its stake in Trev-2 Group to BaltCap
- cash consideration of EUR 5.7m East Capital Explorer AB (publ) (“ECEX”) today announced that it has sold its 38-percent stake in the Estonian road construction company Trev-2 Group to BaltCap, a Baltic private equity firm and existing shareholder in the company, for a cash consideration of EUR 5.7m. The transaction realised a gross IRR of 2 percent and has no effect on NAV.ECEX made its initial investment in Trev-2 Group in 2011. Since then, Trev-2 has been streamlined from 17 majority-owned subsidiaries into a fully consolidated company with two core activities; road construction and