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Lithuania's Eurocash1 set to buy Citedele's cash logistics firm in Latvia
BC, Vilnius, 25.04.2017.
Print version
Print versionEurocash1, a cash collection and security services group that is indirectly controlled by Vilniaus Prekyba's owners, is expanding its operations in Latvia through the acquisition of CBL Cash Logistics, a subsidiary of Citadele Bank, in a deal whose financial details are not being disclosed, writes LETA/BNS.
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Eurocash1 said that the deal will be closed after both sides finalize the technical and commercial details. The Latvian company is planned to be merged into the group and renamed in the fall.
The Eurocash1 Group last year posted over 13.5 mln euros in revenue, including 9.3 mln euros in Lithuania and 4.2 mln euros in Latvia.
Saugos Investiciju Biuras, a company controlled by Tomas Liubertas and Alvydas Sadeckas, own 50.1% of shares in Eurocash1 and NDX Energija holds the remaining 49.9%. Nerijus Numavicius is the largest indirect shareholder of NDX Energija.
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