Riga, Latvia, 2015-07-20 06:50 CEST (GLOBE NEWSWIRE) -- ABLV Private Equity Fund 2010, KS, has sold 2 172 437 public issue shares of joint stock company Grindeks to AmberStone Group, AS. These shares constitute 22.66% of company’s share capital.
According to the plan, ABLV Private Equity Fund 2010, KS, is going to terminate its operations this year, whereas acquisition of shares by AmberStone Group, AS, is a recognition of future development prospects and export potential of joint stock company Grindeks.
ABLV Private Equity Fund 2010, KS is a mutual fund with 100% local capital, and it was established to make investments in leading and promising Latvian companies.
Since 2010 during the period of the fund’s operations, several investment projects have been carried out successfully, and provisional average annual return on the invested capital of the fund’s investors is supposed to reach approximately 20%.
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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong and Limassol.
AmberStone Group, AS is a holding company established in 2013, that manages its affiliate companies operating in various areas. Its main long-term financial objective is to increase the value of the holding company, as well as to ensure sustainable operations of its affiliate companies. There are 103 shareholders in AmberStone Group, and the largest one is ABLV Bank, AS, which holds 24.64% of the company’s shares. The holding company owns 70% of Vaiņode Agro Holding, SIA, 60% of Orto klīnika, SIA, and 100% of ASG 1, SIA.
Ilmārs Jargans
Head of Public Relations Department
ABLV Bank, AS
Tel.: +371 6777 5296
e-mail: ilmars.jargans@ablv.com