Baltic, Financial Services, Investments

International Internet Magazine. Baltic States news & analytics Friday, 27.12.2024, 20:32

Invalda purchases funds in Latvia

Danuta Pavilenene, BC, Vilnius, 28.07.2008.Print version
The financial group of the investment company Invalda will purchase funds in Latvia. The group has received an approval from the Latvian Finance and Capital Market Commission on the purchase of the IPAS Baltikums Asset Management, subsidiary of the Latvian bank Akciju Komercbanka Baltikums. Once this transaction is finished, Invalda will enter the Latvian pension funds market.

Darius Sulnys.

According to Invalda president Darius Sulnys, the financial Invalda group has been operating on the Latvian financial management market since 2006. "This is planned further expansion of the group in Latvia. Finasta Investiciju Valdymas, belonging to Invalda group, has already consolidated its position of the Lithuanian investment and pension funds market and therefore we intend to offer not only investment, but also pension funds management experience in Latvia," Sulnis claims.

 

This May Invalda signed an agreement with the Latvian bank Akciju Komercbanka Baltikums on the purchase of its subsidiary Baltikums Asset Management.

 

Meanwhile, the shares of the company IPS Finasta Asset Management will be sold to the Latvian bank.

 

The transactions will be finished once the actions related to transference and takeover are finalized. The sum of the transaction has not been revealed.





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