AS "AB CITY" made an offer to acquire an additional 50.8% stake in AS Olainfarm (RISE:OLF1R) from a group of shareholders for €66.3 million on September 30, 2021. The offer price is set as €9.26 per share. The consideration will be paid by December 14, 2021. Prior to the transaction, AS "AB CITY" directly owned 2.58 million shares amounting to 18.34% stake and directly and indirectly held 6.93 million shares amounting to 49.2% stake. Nika Saveljeva held 1.27 million shares amounting to 8.98% stake, Anna Emilija Maligina held 1.26 million shares amounting to 8.97% stake, RIGAS FARMACEITISKA FABRIKA held 0.15 million shares amounting to 1.07% stake and OLFIM OÜ held 1.26 million shares amounting to 8.97% stake in AS Olainfarm. On October 21, 2021 the Financial and Capital Market Commission accepted for further processing application for AS Olainfarm mandatory takeover bid by AS AB CITY. On November 2, 2021, Financial and Capital Market Commission decided to allow AS "AB CITY" to announce a mandatory takeover bid for shares of the AS Olainfarm. After the transaction, AS Olainfarm will be delisted from NASDAQ Riga Stock Exchange. The offer will open on November 8, 2021 and will close on December 7, 2021. Results of the mandatory takeover bid will be announced by December 14, 2021.

AS "AB CITY" completed the acquisition of an additional 49.19% stake in AS Olainfarm (RISE:OLF1R) from a group of shareholders for €64.2 million on December 7, 2021. After the mandatory offer, AS "AB CITY", has gained direct and indirect control over 96.12% of Olainfarm shares. As of July 3, 2022, the transaction has received an approval of subject to antitrust regulations.