INVL Baltic Sea Growth Fund, the largest private equity fund in the Baltic States, has agreed to invest up to 30 million euro in the paper division of the Lithuanian group Grigeo. «With this agreement, up to 49.99% of shares in Grigeo Investicijų Valdymas, a company owned by Grigeo, will be bought by BSGF Salvus, one of the fund’s subsidiaries. This will take place in two phases», says Grigeo in a press release. «The transaction needs to be completed after all contractual terms and conditions have been met, subject to the authorisation by the Authority on competition». During phase two of the agreement, an additional investment of 15 million euro will allow INVL Baltic Sea Growth Fund to increase the shareholding in Grigeo Investicijų Valdymas, owned by BSGF Salvus, to 49.99%.