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Tuesday 21.11.2017 | Name days: Andis, Zeltīte
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Names of Citadele Bank’s investors are revealed

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAmong investors of Citadele Bank there are Paul Walker, former head of US Federal Reserve and Egyptian billionaire Nasus Essaouira.

Other investors of Citadele Bank include CEO of Allen & Company Stanley Shuman, co-founder of Cramer, Roshental & McGlynn Gerald Cramer, Canadian Capital Management Fund, Director of Belfer Center for Science and International Affairs Graham T.Allison, Chairman of Sustainable Development Technology Canada’s Board James L.Basili, Matthew O.Digs, who was the President of Copeland Corporation, Dhananjay Dwivedi, who was the CEO of Shinsei Bank, EMS Capital LP representative Edmond Safra, James E.Stanley, who is the leading partner of BlueMountain Capital, Chairman of Wolfensohn Fund Management un Wolfenson&Company, LLC James D. Wolfensohn and Baupost Group.

These investors will acquire 52.6% of Citadele Bank shares. Ripplewood Advisors LLC will own 22.4% of shares. The European Reconstruction and Development Bank will retain 25% of shares.

The names of Citadele Bank investors were revealed by CEO and Founder of Ripplewood Advisors LLC Tim Collins.

BNN had previously reported that Board members of Latvian Privatization Agency Vladimir Loginov and Girts Freibergs and CEO and founder of Ripplewood Advisors LLC Tim Collins signed the contract for the sale of 75% of shares of Citadele Bank for EUR 74 million this week.

The European Reconstruction and Development Bank will retain 25% of shares, as reported by PA.

Conditions of the deal provide for an obligation for investors and ERDB to increase the bank’s capital by EUR 10 million. The deal will conclude in Q1 2015, as soon as confirmation has been received from responsible monitoring authorities. The selling price may change based on the bank’s financial indexes before the end of 2014. This is why the final price will be set in Q1 2015.

All revenue from the possible price correction will be invested in the bank’s capital.

After the conclusion of the deal, Ripplewood will own 22.4% of shares. Other 12 investors will own 52.6% of shares.

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