OREANDA-NEWS. January 18, 2010. The management board of SIA LASCO Investment has taken the decision to sell 100% of SIA Media nams shares. The purchaser of SIA Mediju nams is SIA MN Mediji, the company established by management representatives of Mediju nams – members of the management board – Armands Puce and Lilita Seimuskane, as well as head of the analytical department of Mediju nams - Uldis Dreiblats.

 “There are different opinions about development perspective of Mediju nams between the owners and the management of the company. The initiative of the management buyout of Mediju nams is based on more positive vision about the company’s future. In its turn, for LASCO Investment the deal is economically favourable and it will enable the company to fully concentrate on its core task – implementation of the real estate investment development strategy of Latvian Shipping Company Group”, says Raitis Nespors, chairman of the management board of SIA LASCO Investment.

According to the real estate investment development strategy of Latvian Shipping Company Group, among the investment priorities of LASCO Investment are the real estate investments, their management and the value increase. The management board of LASCO Investment has taken decision to discontinue investments in media business, as they in current economic situation cannot provide investment return in short or middle term.