bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 27.07.2017 | Name days: Marta, Dita
LatviaLatvia

Announcement of final buy-back offer for Ventspils nafta shares is published

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

On Friday, 18 December, the final offer extended by Euromin Holdings Limited regarding the buy-back of shares in Ventspils nafta was published in Latvian Herald.

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe term of this offer is 30 calendar days – from 18 December 2015 to 18 January 2016.

The price of a single share is EUR 4.56.

The Financial Capital and Market Commission permitted Euromin to extend the final buyback offer of Ventspils nafta shares. Euromin currently holds 98.88% of Ventspils nafta shares. It was also decided at an extraordinary shareholders meeting to pull Ventspils nafta shares from the regular market and extend a buy-back offer.

Previously Euromin was obligated to extend a buy-back offer after the September’s deal, when Euromin bought 43.25% of stocks in Ventspils nafta from Latvijas Naftas tranzits for EUR 79.98 million. As a result, Euromin became the owner of 93.24% of the company’s vote-ready stock.

Ventspils nafta is one of the largest company groups in Latvia. It works in the field of oil product transport, shipping and storage. Ventspils nafta is the parent company. It manages investments in companies part of its group and assess the total value and growth potential of each individual company.

Ventspils nafta owns 51% of stocks in Ventspils nafta terminals, which is the largest oil and oil product handling terminal in Baltic States; 66% of stocks in LatRosTrans, which is a joint Latvian-Russian company in Baltic States; 49.94% of stocks in Latvian shipping company, which is one of the largest ship owners in the medium and handy-type tanker segment in the world.

Ref: 102.109.109.3737


Leave a reply

Juncker to held stop food discrimination of EU's eastern members

Reacting to criticism from Slovakia, Bulgaria and other European Union member states on differences in food product quality in Eastern Europe, the head of the EU's executive body, Jean-Claude Juncker, has pledged to help end the «totally unacceptable» practice.

Property purchase and rent trends are similar among Baltic States

Currently the proportion of standard apartments in Riga in comparison with new projects is rather significant – while the number of standard apartments in the capital is 3,200, new projects are limited to only 300 buildings, according to information compiled DNB Bank and Ober-Haus on apartment demand in Latvia and Baltics.

Construction costs in Latvia up 0.2%

Compared to May, the level of construction costs in Latvia increased by 0.2 % in June 2017.

Beer brewers: many will lose jobs because of increased excise tax on beer

If the Saeima supports the initiative on increasing excise tax on beer by 50% this Thursday, 27 July, the number of people employed in the beer industry will decrease 30%, which will especially impact residents of Latvia’s regions, according to Latvian Breweries Union.

Helsinki-Riga route to be tested by Tallink

Estonian ferry and cruise company Tallink is testing this week the interest of passengers to take a cruise trip from Helsinki to Riga.

Where is the piece of land Duklavs’ associates wanted 15 million for?

Ir magazine has surveyed several hectares of land on Daugava River’s left bank, specifically within the territory of Riga Freeport, to find the piece of land that was mentioned by Agriculture Minister Janis Duklavs during his conversation with other politicians in Ridzene hotel.

Opinion: candidates of the last presidency have all been intellectually weak

One of this summer’s hottest and most discussed piece of news was the proposal to allow residents to elect the country’s president. Latvian President Raimonds Vejonis’ 22 June speech to the parliament, in which he proposed allowing the people to elect the president in 2019, caused even more discussions.

Flat rental fraud increases in Estonia

Police in Estonia have observed a increase in fraud complaints in the area of rental flats as fraudsters typically ask for prepayments and deposits for listed flats they do not own.

Latvian troops to participate in Northern Strike exercises in USA

Throughout 27 July – 14 August, more than 70 troops of Latvian Armed Forces will be taking part in Northern Strike 2017 joint land and air exercises organized by Michigan National Guard in USA.

Delna: if the prime minister chooses to stifle emotions, the president should step up

On Wednesday, 26 July, Delna received a response letter from Prime Minister Maris Kucinskis to Delna’s previous letter, in which the organization requested the dismissal of Agriculture Minister Janis Duklavs.

Saeima supports tax reform laws in final reading

Saeima’s Budget and Finance Committee has concluded work on tax reform laws, supporting them in the final reading. Part of the proposals on additional benefits and multiple other matters will be put off for a later date.

Latvian Shipping Company sells its office building on Elizabetes Street 1

On Tuesday, 25 July, Latvian Shipping Company signed an agreement on the sale of its current office building. The buyer and the next owner of the house will be the United Arab Emirates, who purchased the six-story building on Elizabetes Street 1 in Riga for the needs of the embassy, as confirmed by the company.

Farmers Saeima: beef industry in Latvia is not sufficiently developed

Farmers Saeima believes Latvia’s beef industry is not sufficiently developed, and existing farms have not sufficiently stabilized – many farms have major debt. Because of that any kind of support for the industry is welcome.

Puce: Latvia should ratify Istanbul Convention without reservations

For Latvia’s Development political party has turned to Welfare Ministry with a request to ratify Istanbul Convention without any corrections as soon as possible, BNN was informed by the party’s representatives.

More than half of Latvian businessmen work on weekend; study shows

Businessmen normally spend eight hours and five minutes on work every day. More than 58% of Latvian businessmen also work on weekends, according to data from the latest Citadele Index study.

Farmers: crop yield this year will be positive thanks to weather

In Zemgale, crop harvest began a week ago. Harvest of winter crops is almost over. Harvests elsewhere in Latvia will commence no sooner than August, farmers say.

Murniece offers UGF to consider replacing Duklavs

«The policy is that, considering Duklavs’ involvement in Ridzene talks, the Union of Greens and Farmers should consider ways of resolving the situation,» says Saeima speaker Inara Murniece.

Chinese-Russian navy drill takes place in Baltic Sea

Russian and Chinese navies have launched their first joint military drill in the Baltic Sea raising concern to NATO member states Estonia, Latvia, Lithuania and Poland, cautious of Russia's aggressive actions in Ukraine.

Tax loss forecast by Estonian food producers dismissed by Finance Minister

Estonian Finance Minister Toomas Tõniste has rejected the grim forecast published by the Estonian Food Industry Association this week that the state budget would lose 170 million euros in tax revenue in 2018 due to excise tax hikes.

Antane: excise tax for diesel fuel should be reduced, not increased

«Unfortunately, when making the decision to increase excise tax rate for diesel fuel, the government did not consider all possible risks this decision could bring to the transport and logistics industry and the country’s economy as a whole,» BNN was told by President of Baltic Association – Transport and Logistics Inga Antane.

Association: rapid increase of excise tax would cause dramatic rise of smuggling activity

National Association for Tobacco Product Manufacturers is confused about Finance Ministry’s submitted proposals for tax reform that provide for raising excise tax on cigarettes by 11% instead of previously planned 5.5%.

UK plans to ban petrol and diesel vehicles

In an attempt to curb air pollution the UK plans to set the goal to ban from 2040 new diesel and petrol engine cars and vans.

Members of Saeima delegated to the investigative committee in charge of Oligarch case

Andrejs Judins from Unity, Martins Sics from Latvian Association of Regions, Igors Pimetovs from Harmnony, Ritvars Jansons from VL-TB/LNNK, Inguna Sudraba from To Latvia from the Heart and Ainars Mezulis from the Union of Greens and Farmers have been delegated to the parliamentary committee for the investigation of Oligarch case.

U.S. legislators back additional sanctions on Russia

The House of Representatives of the U.S. Congress has adopted imposing additional sanctions on Russia, North Korea and Iran, even though U.S. President Donald Trump has opposed fresh sanctions on Russia.

Government allows Bite Lietuva to become the owner of TV3, LNT and Star FM

On Tuesday, 25 July, the Cabinet of Ministers permitted Lithuanian company UAB BITE Lietuva to acquire decisive influence in Latvian media companies TV 3 Latvia, LNT and Star FM.