VILNIUS — In an extraordinary shareholder’s meeting on Monday Lithuanian agribusiness conglomerate Agrowill agreed to increase the company’s share capital by 65 million litai (€18 million) to fund new projects.

Exactly what the equity financing is planned to be covering was not disclosed by the company. The increased share capital will allow Lithuanian private equity firm Hermis Capital and Cypriot holding companies Volemer Holdings and Vretola Holdings to gain additional leverage over the Agrowill.

Agrowill, which is publicly traded on the Vilnius stock exchange, specializes in farm-based agricultural production and includes 40 subsidiaries in central and southern Lithuania.

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