Baltic, Banks, Estonia, Financial Services, Good for Business, Latvia, Real Estate

he bank said that AmberStone Hotels, a subsidiary of AmberStone Group, has established a new subsidiary registered in Estonia, Lai 49. The share capital of Lai 49 is EUR 2,500. Thus, ABLV Bank has acquired indirect qualifying holding in Lai 49 (via AmberStone Group where ABLV Bank holds 24.64% of shares).

AmberStone Group is a holding company established in 2013 that manages its subsidiaries and affiliate companies operating in various areas. The holdings of AmberStone Group include 100% in AmberStone Hotels. AmberStone Group has 103 shareholders, and ABLV Bank with 24.64% is the largest of its shareholders.The holding company owns 70% of Vaiņode Agro Holding, SIA; 60% of Orto klīnika, SIA; 22.66% of Grindeks, AS; 100% of ASG 1, SIA; 90% of ASG 2, SIA; 100% of ASG 3, SIA, 100% of ASG 4, SIA, and 100% of AmberStone Hotels, SIA.

ABLV is the second largest bank in Latvia by assets. The bank's major shareholders - Olegs Fils, Ernests Bernis and Nika Berne - directly and indirectly hold 86.55% of the bank's voting share capital.