ELKO Group secures financing to continue growth

In order to ensure stable growth in line with the information technology market development, IT distributor ELKO Group has prolonged the agreement with JSC DnB NORD Bank on 26th of September. According to the agreement the Company will have access to funds in amount of 35 million USD for two years.

The prolongation of credit facility demonstrates the trust of financial partners and their confidence in the ELKO Group’s ability to achieve challenging business goals in complex market environment, as well as ensures the growth of the Company in line with market trends.

About ELKO Group

ELKO Group was founded in 1993 and is one the largest Latvia's enterprises. The main operational direction of the enterprise is the wholesale of computer engineering and electronic goods in the Baltic States, Central and Eastern Europe and CIS countries. The enterprise represents more than 80 producers and sells their goods to approximately 6300 retailers, local providers of computer engineering solutions and system integrators. ELKO Group offers more than 9000 product names from the world's most famous suppliers - Acer, Intel, Seagate, Samsung, Sony, TomTom, Western Digital and others. Currently, there are more than 340 people employed in the enterprise. ELKO Group is owned by several legal persons, as well as by Amber Trust investment fund and investment funds related to East Capital Asset Management.
 

Further information:

Svens Dinsdorfs
ELKO Grupa AS
CFO

Telephone: + 371 6709 3266
Fax: + 371 6709 3299
E-mail: svens_dinsdorfs@elkogroup.com
http://www.elkogroup.com