ABLV Private Equity Fund 2010, KS which is a part of ABLV Group, has increased its shareholding in the leading Latvian pharmaceutical company AS Grindeks to 22.66%. In addition to AS Grindeks shares previously owned, ABLV Private Equity Fund 2010, KS has purchased 1 081 593 shares from funds managed by fund manager East Capital.

The additional share purchase was made to support AS Grindeks and its management in realising the company’s significant potential for development of new products and increasing sales in export markets.

ABLV Private Equity Fund 2010, KS is a private equity fund with 100% local capital, and it invests in leading and promising companies, becoming a reliable long-term financial partner. The fund also holds capital shares in such companies as SIA Depo DIY, SIA Orto klīnika, and SIA Vaiņode Agro Holding.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s majority shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86% of the bank's 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