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Tallink Jumps Most in 3 Years on Citigroup Stake: Tallinn Mover

Dec. 13 (Bloomberg) -- AS Tallink Grupp rose the most in three years after a company that an Estonian newspaper said is part of Citigroup Inc. bought a stake, paying 42 percent more per share than yesterday’s close.

The shares surged as much as 14 percent, the biggest intraday gain since September 2009, and closed up 11.5 percent at 0.862 euro in Tallinn. Volume of 1.25 million shares was 10 times the three-month daily average, according to data compiled by Bloomberg. The OMX Tallinn equity index rose 3.5 percent to 726.20, the highest since April 2011.

Baltic Cruises Holding LP bought a 15.7 percent stake in the Tallinn, Estonia-based company for 116.6 million euros ($152 million), or 1.1 euros a share, Tallink said today on the Baltic website of the Nasdaq OMX exchange group.

The new shareholder is owned by Citigroup Venture Capital International Growth Fund II, the Estonian business daily Aripaev reported on its website today, without saying where it got the information.

Baltic Cruises bought a combined 7.8 stake in Tallink from two investment funds run by Citigroup, the ferry operator said. It also bought shares from Firebird Republics Fund Ltd., Amber Trust SCA and AS Infortar, which retain smaller stakes, it said.

CVCI Vice President Ashwin Roy is a member of Tallink’s supervisory board, according to Tallink’s website. The website of CVCI lists Tallink as part of its investment portfolio, describing the Estonian company as “one of Europe’s largest and most profitable ferry operators.”

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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