Latvia, Legislation, Markets and Companies, Mergers and take-overs

This will be done to streamline the company's operations and simplify its structure, according to Narvesen statement to the mass media.

The merger will result in Narvesen Baltija taking over all Preses apvieniba liabilities. Preses apvieniba will cease to exist as a legal entity.

There will be no changes in relations between Narvesen and its cooperation partners. All previously signed contracts will remain in effect.

Narvesen has already submitted a petition for reorganization to the Register of Enterprises. It is expected that all required procedures will conclude by April 2014.

Narvesen is a Norwegian chain of convenience stores/news agents, which has been operating in Latvia since 1997. There are currently 245 Narvesen stores in Latvia, employing more than 650 people.