AS “Latvijas Gāze” management buy-out team mobilises financing for the next step.
The special purpose vehicle “Energy Investments” SIA, founded by AS “Latvijas Gāze” board members, continues the management buy-out (MBO) process whereby it is planned to acquire AS “Latvijas Gāze” shares from the issuer’s major shareholders.
As part of the process, an agreement has been reached with the current financier AS “Rietumu Banka” on the next steps.
In order to raise funds for further stages of share acquisition, “Energy Investments” SIA has, as part of financing the MBO project, sold the issuer’s shares (~29%) purchased in the first stage of management buy-out to
Chairman of the board of “Energy Investments” SIA Aigars Kalvītis says:
“We are pleased to have the opportunity to continue towards the ambitious goals of the MBO process. The agreement reached with AS “Rietumu Banka” will enable the MBO team to buy out AS “Latvijas Gāze” shares from the current major shareholders in a relatively short time frame and make the company an energy market flagship controlled by domestic capital. Furthermore, we are confident of buying back the shares from the financier in less than 3 years.”
On behalf of AS “Latvijas Gāze” and “Energy Investments” SIA
Aigars Kalvītis, Chairman of the Board.
Attached:
- Statement of loss of qualifying holding in AS “Latvijas Gāze” by “Energy Investments” SIA;
- “Energy Investments” SIA template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them;
- Statement of loss of qualifying holding in AS “Latvijas Gāze” by A.Kalvītis.
About SIA “Energy Investments”
SIA “Energy Investments” is a special purpose vehicle founded in 2023 to implement management buyout at AS “Latvijas Gāze”. Its founders and board members are Aigars Kalvītis, Elita Dreimane and Egīls Lapsalis who also serve in the board of AS “Latvijas Gāze”.
About AS “Latvijas Gāze”
Founded in 1991, AS “Latvijas Gāze” is one of the leaders of the Baltic energy sector and provides the wholesale and sale of natural gas to business customers in
Further information:
Sandra Joksta
investor.relations@lg.lv
phone: + 371 67 374 369
Attachments
- SIA_Energy_Investments_veidne_zinosanai_par_personu_kas_veic_parvaldibas_pienakumus_un_ar_tam_ciesi_saistitu_personu_darijumiem_un_to_atklasana_sabiedribai_29_11_2023
- A_Kalvitis_veidlapa_pazinojumiem_par_nozimigu_lidzdalibu_29_11_2023
- Energy_Investments_SIA_Veidlapa_par_pazinojumu_par_nozimigu_lidzdalibu_29_11_2023
© OMX, source