Arco Vara Group increased its shareholding in Latvian subsidiary Arco Development SIA

Arco Investeeringute AS, a 100 per cent subsidiary of Arco Vara AS, increased
its shareholding in Arco Development SIA from 80 per cent to 99.99 per cent. It
was a non-cash transaction because Arco Vara converted some of its subordinated
loans to equity. 0.01 per cent of the shares belongs to Mr. Viktors Savins. 
 
Arco Vara is one of the leading real estate developer in the Baltic's,
operating also in Ukraine and Bulgaria. Core business is real estate
development supported by brokerage network, construction arm and property
management. The company has offices in 17 cities and employs ca 250 people.
Arco Vara AS is listed on Tallinn Stock Exchange. 

Heigo Metsoja
CFO
Arco Vara AS
phone: +372 614 4654
heigo.metsoja@arcovara.ee
www.arcorealestate.com