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Acquisition of UniCredit Bank by Swedbank allowed in Latvia
BC, Riga, 21.11.2013.
Print version
Print versionThe Financial and Capital Market Commission today gave the go-ahead for acquisition of part of UniCredit Bank's Baltic portfolio by Swedbank, noting that the acquisition is in line with the law and in the interest of UniCredit Bank clients, as the commission informed the Nozare.lv business portal, writes LETA.
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Swedbank is to acquire UniCredit Bank's loan, deposit and commitment portfolios in Latvia. The Financial and Capital Market Commission also analyzed acquisition of UniCredit Bank companies in Estonia and Lithuania by Swedbank branches in the two countries.
As reported, Swedbank announced at the end of October that it was going to acquire part of UniCredit Bank's Baltic portfolio. In total, the deal comprises loans and commitments of EUR 94 million (LVL 66 million) from 120 customers across the Baltic States.
All customers affected by the deal will receive accurate and timely information about any actions they may need to carry out.
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