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Friday, 19.04.2024, 20:35
Offer to buy Citadele Bank still on despite developments
BC, Riga, 31.10.2014.
Print version
Print versionU.S. entity Ripplewood Advisors, the confirmed buyers of the state's stake in Citadele Bank, announced yesterday that it understands that postponement of the signing of the contract is "merely technical in nature", reports LETA.
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In other words, the Cabinet has officially approved the deal, therefore the investors' offer to buy still stands.
Nonetheless, PM Straujuma's meeting today with Ripplewood Advisors Tim Collins, has been cancelled.
This in wake of the board resigning yesterday at the Latvian Privatization Agency/LPA, protesting the government's pending deal with Ripplewood Advisors.
The Cabinet let it be known this afternoon that the deal on Citadele will be finalized only when a new board is intact at LPA.
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