Teksts
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In August 2016, Joint Stock Company has made another regular
interest payment to the State Treasury in the amount of EUR 4 m,
thus already EUR 34.2 m has been paid to the Treasury this year,
which is by EUR 11.5 m more than in the same period last year.
The amount of funds repaid to the State Treasury to a great extent
depends on the completion terms of large deals; and in the first
half of this year Reverta’s work was marked by the conclusion of
deals of noteworthy scope in Latvia, Russia, Lithuania, and
Estonia. Also proceeds from the sale of real estate properties have
increased during H1 2016 – the total amount was EUR 12.9 m, which
is by EUR 7.2 m more than the previous year. The reason for this
was the reconstruction, lease and subsequent sale of the airBaltic
headquarters for the total amount of EUR 6.2 m. The sales figures
also benefited from the regular revision of property prices.
Since 1 August 2010, the state has received from Reverta more than
EUR 641 m in the form of various payments, of which EUR 397 m was
paid directly to the Treasury. In addition to that, Reverta has in
due time disbursed term deposits, interest on subordinated capital
and other big volume payments.
For additional information:
Joint-stock company Reverta is one of the largest distressed asset
managers in the Baltic countries. Since 1 August 2010 Reverta has
recovered more than EUR 704.3 m from the restructuring and sales of
distressed assets.
In order to implement the EC approved Restructuring Plan which
envisages completion of the workout of Reverta’s portfolio and
closing of all operations by the end of 2017, Reverta has signed an
agreement with KMPG Baltics for receiving expert’s advice on the
sales process of its loan and real estate portfolios.
In order to continue the work that already has been done and to
maximise proceeds from already commenced workout processes, the
workout of separate portfolio items will be carried on along with
the overall sales process until the final sale of the remaining
portfolio.
To learn more about Reverta, please visit our web page:
www.reverta.lv.
For more information contact:
Marita Ozoliņa
Head of Communication and Marketing Department
Tel.: 67779142 or 29287169
E-mail: marita.ozolina@reverta.lv
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