Estonia, Latvia, Legislation, Mergers and take-overs, Railways, Transport

International Internet Magazine. Baltic States news & analytics Saturday, 21.04.2018, 14:23

Estonian Skinest Rail allowed to make final takeover bid for Latvian DLRR

BC, Tallinn/Riga, 11.01.2018.Print version
The Latvian financial watchdog, the Finance and Capital Market Commission, has given its permission to Estonia's Skinest Rail to make final takeover bid for the shares in the Latvian train engine repair company Daugavpils Lokomotivju Remonta Rupnica (DLRR), writes LETA, according to the statement submitted to the Nasdaq Riga stock exchange.

The final buyout price offered for DLRR shares is EUR 0.44 per share.

 

Skinest Rail directly and indirectly holds 7,955,474 shares or 95.92% in DLRR.

 

DLRR group closed the first nine months of 2017 with EUR 16.208 million in turnover, up 44.8% against the same period in 2016, while the group's loss contracted 18% year-on-year to EUR 2.043 million.






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