International Internet Magazine. Baltic States news & analytics
Friday, 18.04.2014, 03:44
PZU SA has today reached an agreement, subject to regulatory and antitrust approvals, to purchase Lietuvos Draudimas AB in Lithuania, AAS Balta in Latvia, the business of the Estonian branch of Codan Forsikring A/S and Link4 Towarzystwo Ubezpieczen S.A. in Poland. The total aggregate consideration amounts to approx. EUR360m. The acquisitions are a key step in fulfilling PZU’s strategy of international expansion, informed BC PZU’s press service.
Keyword tags: EU – Baltic States, Financial Services, Insurance, Legislation, Mergers and take-overs
Estonian publishing group AS Ekspress Grupp told Tallinn stock exchange that it will merge its two Lithuanian subsidiaries, UAB Delfi and UAB Ekspress Leidyba, reports LETA/ELTA.
The company FF Foods, which is the holder of the Lango and Ilguciema maiznica konditoreja" brands since June 2012, has been acquired by the German company Baltic Natural Power Invest GmbH, according to Firmas.lv data, cites LETA/Nozare.lv.
With the conclusion of the sales process, the company which owns and operates the ''Iki'' chain of grocery stores Lenoka Ltd. (formerly Palink Ltd), is now officially owned and operated by Mego Ltd., the company's board member Inara Hupenija confirmed to the business information portal Nozare.lv, cites LETA.
The popular Latvian on-line news portal Tvnet, owned by TV Net Ltd., has purchased another well-known on-line news portal Apollo.lv from the company's owners Sanoma Latvia Ltd., the company's board member Ivars Bauls informed the business information portal Nozare.lv, cites LETA.
Estonian Alexela fuel concern submitted an application to the Competition Board to buy the other half of the Kiviõli Keemiatööstus chemicals industry too, LETA/Public Broadcasting reports.
Concluding re-organization that lasted three years, by order from its Finnish parent company, the meat-processing Rigas miesnieks will be renamed HKScan Latvia. This change will in no way affect the well-known brand or employees, reports LETA/Nozare.lv.