Riga, Latvia, 2015-01-28 10:40 CET (GLOBE NEWSWIRE) -- To ensure that operations of ABLV group are further focused on rendering financial services and to prevent the group's structure from becoming too ponderous and unclear, ABLV Bank management decided to gradually separate private equity investments from the bank's group by establishing new company - AmberStone Group, AS, which will take over the investments of limited partnership ABLV Private Equity Fund 2010, KS.
Therefore at the end of December 2014, shares of SIA Orto klīnika amounting to 60% of the said company’s share capital and shares of SIA Vaiņode Agro Holding amounting to 70% of the said company’s share capital, previously owned by limited partnership ABLV Private Equity 2010, KS, in which ABLV Bank, AS, is the member holding 100% of investments, were sold to AmberStone Group, AS, in which ABLV Bank, AS owns stocks amounting to 40.89% of the share capital.
Following the said transactions, ABLV Bank, AS retains indirect qualifying holding in SIA Orto klīnika and its subsidiary SIA Orto māja, in SIA Vaiņode Agro Holding and its subsidiaries SIA Vaiņodes Agro and SIA Vaiņodes Bekons, and also in subsidiaries of SIA Vaiņodes Bekons – SIA Gas Stream, SIA Bio Future, SIA IZ SPV, and SIA NR SPV.
ABLV group’s structure after the abovementioned changes is provided in the appendix.
ABLV Bank, AS, is the largest independent private bank in Latvia. The bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne — directly and indirectly hold 86.23% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, Tashkent, and Limassol.
Ilmārs Jargans
Head of Public Relations Department
ABLV Bank, AS
Tel.: +371 6777 5296
e-mail: ilmars.jargans@ablv.com
