On 27 February 2009 the necessary changes to the register of Parex banka’s shareholder register was made, thus Latvian Privatisation Agency has become the holder of 85,14% of the Bank’s shares. The Latvian Financial and Capital Markets Commission has granted the necessary approval for Privatisation agency in acquiring shares of Parex banka. 

 

Henceforth, a specially formed interinstitutional work group under the guidance of the Finance Minister will resolve all questions pertaining the negotiations with the lead consultant Nomura International plc, increase of Parex banka’s capital, as well as the proposals of possible investors, including the European Bank for Reconstruction and Development, to participate in the equity capital of Parex banka, while the Privatisation Agency will carry out necessary routine activities involving management of shares. 

 

As reported, on 24 February 2009, Government made a decision to transfer state-owned 85,14% of Parex banka’s shares into holding of the Privatisation Agency to ensure further professional actions and prepare the Bank for capital increase and further selling. Under this decision the Privatisation Agency shall take over Parex banka’s shares owned by the Mortgage and Land Bank of Latvia upon the conclusion of purchase agreement.  

 

About the Privatisation Agency: 

The Agency is experienced in forfeiting of state shares of credit institutions like Latvian Savings Bank, Latvijas Unibanka. The Privatisation Agency has organised international offers of shares of several Latvian enterprises (GDR – Unibanka, Latvian Gas and Latvian Shipping Company). Similarly, the Privatisation Agency has collaborated with notable international institutions and world class consultation companies like Nomura International plc, Pricewaterhouse Coopers, Ernst&Young, EBRD, UBS, KPMG, Villiams de Broe. The Agency has concluded 172 capitalization agreements for the total amount of LVL 11 152 217.01, as well as sold shares of 321 companies for the total amount of LVL 455 675 200.83.

Being founded in 1992, Parex banka offers universal banking services throughout the Baltic region, the CIS and other European nations such as Germany, Switzerland and Sweden. Parex Group companies operate across the banking, finance, leasing, asset management and life insurance sectors. Parex banka is the only partner of American Express in Latvia and Lithuania, allowed to issue American Express credit cards. Since 05 December 2008 the State owned Mortgage and Land Bank of Latvia is the majority shareholder of Parex banka.

 

 

Indra Zinkeviča,

Head of Corporate Communications and Public Relations

Phone: 67778571 or 29139449

e-mail: indra.zinkevica@parex.lv

www.parex.lv

 

Anete Frīdenšteina- Brīdiņa

Public Relations

Phone.: 67021354, mob.: 22019025

E- mail: anetefb@mail.lpa.bkc.lv