AS “Latvijas kuģniecība” (Latvian Shipping Company or LSC) has sold it’s indirect interest in AS “Latvijas Naftas tranzīts” (LNT) to AS “Ventbunkers”. LSC via it’s subsidiary SIA “Skonto nafta” owned 16% stake in LNT. The deal value is 15.40 million EUR, which also includes the repayment of loan in the amount of 2.10 million EUR, previously issued to SIA “Skonto nafta” by LNT. Before this deal LSC subsidiary SIA “Nafta Invest” acquired remaining 14% shares of SIA “Skonto nafta” owned by Vladimirs Solomatins and therefore before the deal with AS “Ventbunkers” owned 100% of SIA “Skonto nafta”. The received funds will be used to repay LSC Groups loans received from AS “Ventspils nafta”.
About JSC “Latvian Shipping Company”
JSC “Latvian Shipping Company” (NASDAQ RIGA: LSC1R) is among the biggest vessel owners in the segment of medium and handy size tankers and takes leading positions in terms of the transported amount of petroleum products among similar companies in Northern Europe. The company owns 16 modern vessels employing more than 500 professional and high-skilled seamen from Latvia. Besides, it is technically serving four more vessels, thus managing a fleet of 20 vessels. The average age of the LASCO fleet is 8 years. All of the vessels have received ISM (International Safety Management) certificates.
Elīna Dobulāne, Communications Consultant
JSC “Latvian Shipping Company”
Telephone: +371-25959447
E-mail: elina.dobulane@vnafta.lv
www.lk.lv