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International Internet Magazine. Baltic States news & analytics Thursday, 18.04.2024, 04:10

Vitol Netherlands will make mandatory takeover bid in Latvijas Kugnieciba shares

BC, Riga, 13.07.2017.Print version
The Latvian Finance and Capital Market Commission (FKTK) has allowed Vitol Netherlands B.V., a shareholder in Latvijas Kugnieciba (LASCO) shipping company, to make a mandatory takeover bid, said FKTK spokeswoman Laima Auza, cites LETA.

She said that the price of one share in prospectus is set at EUR 0.71.


"As Vitol Netherlands B.V. has obtained 69.56 percent of voting shares in Latvijas Kugnieciba, and it is obliged to make the mandatory takeover bid," said Auza.


The takeover bid will last for 30 calendar days, from the day it was expressed, that is, from the date when the offerer in accordance with the Law on the Financial Instruments Market has published information on the takeover bid in the official gazette Latvijas Vestnesis.


Latvijas Kugnieciba provides shipping services in all seas and oceans of the world, trains and recruits crews, as well as provides technical ship management to its own and ships owned by other companies.


Latvijas Kugnieciba is quoted on the Main List of the Nasdaq Riga stock exchange.






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