EU – Baltic States, Latvia, Markets and Companies

After conclusion of the deal at the end of July, 100% of the leasing enterprise's shares belong to the Swedish company. Share capital of Nelss lizings is currently LVL 280,000.

Anzelika Hotelovica, the former chairperson of the board at Nelss lizings explained that Nelss sold the leasing company because financial services were not the company's core business activity and because they were offered a profitable deal.

Daniils Rulovs, head of Latvia's biggest leasing company Hansa lizings commented that Nelss had received offers to sell Nelss lizings already before, but that it was not interested in selling its business to local companies. Rulovs also explains that it was Swedish company Marginalen, who chose to enter Latvian leasing market because the Scandinavians have a good understanding of the Baltic region. He added that he would not be surprised if the Swedish holding would expand its activity also to Estonia.

Marginalen AB was established in 1979, it is part of the Marginalen Group, which comprises companies ESCO Marginalen AB, Inkasso AB Marginalen, Finans AB Marginalen, Konsult AB Marginalen, Kredit AB Marginalen and Lexus International B.V..

Nelss lizings started operating in Latvia in 1999 with the aim to serve the customers, purchasing Nelss construction materials. Currently it offers leasing services also for the purchase of cars, commodities, etc. In 2007, the credit portfolio of Nelss lizings reached LVL 5.86 million, which is 64.5 percent more compared with the end of 2006. The company's net turnover last year was LVL 1.27 million and it posted LVL 270,000 profit.