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The price of one share in voluntary takeover bid is set to be EUR 9.

Due to the impact of the price in voluntary takeover bid to the price of the stock, Nasdaq Riga stock exchange decided to flush the order book of Latvijas balzams before the start of trading.

At the moment, Amber Beverage Group owns 89.99% of Latvijas balzams' shares with voting rights.

The takeover offer will come in force only after the according decision is made by the Financial and Capital market Commission on allowing to announce the takeover bid.

The takeover bid for Latvijas balzams shares will last for thirty days, starting on the day when Amber Beverage Group publishes official announcement in the official journal Latvijas Vestnesis informing about the takeover bid.

As reported, Latvijas balzams posted EUR 55.27 million in unaudited turnover for the first three quarters of 2015, up 7.9% from the same period in 2014, according to the company's report to Nasdaq Riga.

Latvijas balzams has been part of the Amber Beverage Group since October 2014. Amber Beverage Group was founded, and belongs to, the Netherlands-registered company S.P.I. Regional Business Unit B.V.

Latvijas balzams is the largest producer of alcoholic beverages in the Baltic States with a range of more than 100 different products. The company's production is exported to more than 160 export markets as mediated by SPI Group, and to 30 markets via the company's direct export route.