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Wednesday, 17.04.2024, 22:11
Luminor grants extension to Amber Beverage EUR 22.7 mln overdraft facility
The bank said that Amber Beverage Group plans to use the overdraft to finance its production and daily business operations, as well as reaching the group's strategic goals.
The agreement on the extension of the EUR EUR 22.7 million overdraft facility has been concluded between Luminor Bank and several companies of the Amber Beverage Group: Amber Beverage Group Holding (Luxembourg), Amber Distribution Latvia, Latvijas Balzams, Interbaltija AG, Amber Beverage Group and Bennet Distributors (Lithuania).
Amber Beverage Group was established in October 2014 as the international beverage company SPI Group consolidated its companies in the Baltic countries. Amber Beverage Group is a majority shareholder in three Latvia-registered companies: Latvijas Balzams, Amber Distribution Latvia, and Bravo. Amber Beverage Group holds more than 200 brands and employs more than 2,100 people.
The Latvian branch of Luminor Bank is the third largest bank in Latvia by assets. The bank's strategic investor is U.S. company Blackstone which holds a 60 percent stake in Luminor.
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