Estonia, EU – Baltic States, Markets and Companies

According to the agreement reached between the syndicate of creditors that is led by Swedbank and the owners of Sportland, Altraja and Kalle were granted five more years to pay their debts.

“While we used to have contracts concluded with creditors in different countries, by now the syndicate established under Swedbank’s leadership involves all parties and the outstanding loans have been restructured,” explained Anti Kalle. He noted that the enterprise has until 2014 to recover from the crisis.

Swedbank also agreed to give Sportland some extra funding to restructure the retail chain – the biggest one in the Baltic States that is specialised on sports and recreational goods.

As a result, the Scandinavian investment enterprise Askembla left the group of shareholders of Sportland. According to the agreement, the shares Kalle and Altraja held in the chain of sports clubs MyFitness was transferred to Askembla.