Financial Services, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Sunday, 31.05.2020, 03:06

Delfi's Latvian company acquires stake in Altero financial comparison platform

BC, Riga, 18.10.2019.Print version
A/S Delfi, a 100% subsidiary of listed Estonian media holding AS Ekspress Grupp, signed a contract on Friday to acquire 25.5% of the shares in financial comparison and brokerage platform company SIA Altero, reported LETA/BNS.

The founders of Altero, Sandis Grinfelds and Arturs Kostins, will continue active participation in the management of the company. The parties have agreed not to disclose the price or other conditions of the transaction, Ekspress Grupp told the stock exchange. 

The aim of the acquisition is to increase the share of the group's digital revenues and develop the group's diversified digital business footprint.

SIA Altero operates a financial comparison and brokerage platform in Latvia at the address, and starting from spring 2019 also in Lithuania, at the address More than 90,000 Altero clients have compared financial offers for consumer loans, car loans and other products since the launch of the platform in June 2016. The company is a leading financial comparison service provider in Latvia and Lithuania.

AS Ekspress Grupp is a media group active in the Baltic states whose key activities include web media content production, publishing of newspapers and magazines and provision of printing services in Estonia, Latvia and Lithuania. AS Delfi has been part of the media group since 2007. 

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