Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
Veids | Būtiski notikumi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2016-05-24 21:49:03 |
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Teksts |
Olainfarm
Borrows 14 Million Euros from ABLV Bank to Finance Acquisition of
SIA Tonus Elast
AS Olainfarm has signed a
loan agreement with AS ABLV Bank about 10 years maturity loan of 14
million euros to finance the acquisition of 100% shares in SIA
Tonus Elast, producer of elastic medical appliances.
“Acquisition of Tonus Elast
is so far the biggest project related to expansion of Olainfarm
group. We believe that all the synergies, new markets,
improved product portfolio and joined experience will ensure a more
dynamic development of Tonus Elast and the entire group,” says
Valerijs Maligins, Chairman of Olainfarm’s Board.
Antons Marcenko, Head of
Project funding unit of AS ABLV Bank notes: “ABLV offers and
provides special custom tailored lending conditions. Lending for
large Latvian companied and providing full support service for
acquisition transactions is our priority. Long term loan for
producer, producing export oriented products confirms our trust in
client’s business model, management team and shareholders.
This sizeable transaction is a good indication about the investment
climate in Latvia – as the local capital is playing an increasing
role in development of Latvian economy and improving
competitiveness of Latvian companies abroad. We expect that further
growth of our loan portfolio will also be predominantly ensured by
lending to Latvian based companies.”
Legal support to AS Olainfarm
for acquisition of 100% shares in SIA Tonus Elast and for financing
was provided by “Glimstedt and Partners” law office.
SIA “Tonus Elast” was
established in 1995 and is a producer of elastic medical products,
from elastic bandages to complicated corsets for pregnant and
lactating women. Products portfolio of SIA Tonus Elast includes
more than 100 different product types, bestselling of which are
bandages and compression products. The main sales markets are CIS
and EU countries, India and the countries of Middle East. A
little more than 200 employees are working at production site of
SIA Tonus Elast in Nicas novads. Company’s sales in 2015 were
7.3 million euros and it made a net profit of 1.7 million euros.
About
AS Olainfarm JSC Olainfarm is one of the
biggest pharmaceutical companies in Latvia with more than 40 years
of experience in production of medication and chemical and
pharmaceutical products. A basic principle of company's operations
is to produce reliable and effective top quality products for
Latvia and the rest of the world. Products made by the Group are
being exported to more than 35 countries of the world, including
the Baltics, Russia, other CIS, Europe, Asia, North America and
Australia.
About
AS ABLV Bank
AS ABLV Bank is the largest independent bank in Latvia.
Shareholders of the bank: Olegs Fils, Ernests Bernis and Nika
Berne, both directly and indirectly own 86.25% of voting shares.
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; ABLV Advisory Services, SIA; New Hanza City, SIA and other
companies. ABLV Group has representative offices in Moscow, St.
Petersburg, Vladivostok, Kyiv, Odessa, Minsk, Almaty, Baku,
Tashkent, Hong Kong, Limassol and New York.
Information prepared by:
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