OREANDA-NEWS. August 27, 2008. The join-stock company “Latvijas Krajbanka” informed that the Competition Council has decided to allow the AS “Latvijas Krajbanka” to merge with the insurance joint-stock company “Baltikums dziviba”, reg. No. 40003053851, acquiring the marginal influence in the AAS “BALTIKUMS DZIVIBA”, reported the press-centre of Latvijas Krajbanka.

As it has been informed, on June 20th 2008 AS “Latvijas Krajbanka” concluded a contract with AS "Akciju komercbanka "Baltikums"", SIA "Sergey Peshkov Holdings" and SIA "Alexander Peshkov Family Holdings" on acquisition of 2 511 895 (two million five hundred eleven thousand eight hundred ninety-five) or 99,79% shares of the insurance joint-stock company "BALTIKUMS DZIVIBA", registration No.40003053851, for the total amount of LVL 2 714 235 (according to the currency exchange rate set by the Bank of Latvia on the day of the contract conclusion the total amount comprised 3 862 030 EUR). The nominal value of one share is 1 LVL. Registered and paid-in stock capital of AAS "BALTIKUMS DZIVIBA" comprises 2 517 059 LVL. 

Since the permissions from controlling bodies are received, soon both parties will perform the necessary procedures and settlements.