Lithuanian furniture concern sold its company in Mogilev for 1 euro
The Lithuanian concern for furniture, textile production and real estate management SBA sold its company in Belarus, reports LRT.
On May 7, 2025, for 1 euro, SBA sold the Lithuanian company Industrial Investment International (which directly controlled the non-operating furniture factory "Mebelain" in Mogilev) to the UAE-registered company Pinx Assets, owned by a Belarusian citizen.
The buyers are a former SBA employee and one of the managers of "Mebelain," both citizens of Belarus. The price is symbolic, as investments in "Mebelain" had already been written off.
Mebelain's operations were suspended in March 2022 after Russia's invasion of Ukraine. By the end of 2022, all assets were written off.
The sale was delayed due to restrictions by Belarusian authorities on the sale of Western companies — this deterred potential buyers.
In February 2025, SBA fully settled its debt with the EBRD for the "Mebelain" loan: from 6.9 million euros in obligations, it paid 4.5 million euros plus 87 thousand in interest, and the bank wrote off the rest.
SBA invested about 47 million euros in the factory in Mogilev (opened in 2015, it produced cabinet furniture for export).
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