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EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Resource Library 4-22-2015 Latvia completes Citadele banka sale SNL Financial Services Daily https://elischolar.library.yale.edu/ypfs-documents2/1783  This resource is brought to you for free and open access by the Yale Program on Financial Stability and EliScholar, a digital platform for scholarly publishing provided by Yale University Library. For more information, please contact ypfs@yale.edu. Page 1 of 1 © 2023 Factiva, Inc. All rights reserved.Latvia completes Citadele banka saleShreeja Dayanand190 words22 April 2015SNL Financial Services DailySFSDIssue: 85164EnglishCopyright 2015. SNL Financial LCThe Latvian Privatization Agency said April 20 that it completed the sale of its 75% stake in AS Citadele banka toa group of 12 international investors led by Ripplewood Holdings LLC for €74.7 million, higher than the initiallyplanned purchase price of €74 million.Ripplewood Holdings will have a 22.4% stake in Citadele banka. The other 12 investors, including Baupost GroupLLC, will jointly hold a 52.6% stake in the Latvian lender, the agency said.Also, funds received from the sale will help the agency complete the restructuring of the former Parex Bank,which was split into Citadele banka and JSC Reverta.Furthermore, the agency noted that of the €377.9 million of state aid received by Citadele banka, only asubordinated loan of €34.7 million and associated interest remain to be repaid. The bank plans to repay this by2017-end.Citadele banka said its shareholders increased the share capital by €10 million to €156.6 million. Additionally, itsrestructuring plan will be no longer subject to restrictions related to state aid imposed by European Commissionrules.Document SFSD000020150428eb4m0000x

Latvia completes Citadele banka sale

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Latvia completes Citadele banka sale

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