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TARK GRUNTE SUTKIENE advises

15.03.2011

On 15 March 2011 AS "Latvijas Biznesa banka" merged its operations with AS "Eesti Krediidipank". After the merging process, all AS "Latvijas Biznesa banka" clients will be serviced by AS "Eesti Krediidipank branch of Latvia". The restructuring has been initiated by the shareholders of AS “Latvijas Biznesa banka” and AS “Eesti Krediidipank”, which decided to merge the operations in the Baltic States in the spring of 2010.

Legal assistance in the cross-border merger of the banks has been provided by law firm TARK GRUNTE SUTKIENE partner Hannes Vallikivi, senior associates Andra Rubene, Inese Hazenfusa, Linda Strause, assosiates Olger Kaelep, Nauris Grigals and Zanete Raize. The deal has been co-ordinated with Republic of Latvia Financial and Capital Market Commission.

AS "Eesti Krediidipank" was founded in 1992 by the first Bank of Estonia president after Estonia regained its independence and the "father" of Estonian kroon - Rein Otsason. The bank currently serves 65 thousand customers and has acquired the reputation of a bank with dynamic development, which provides its clients with a vast spectrum of high quality banking services in 11 Estonian towns.

Press release of AS “Latvijas Biznesa banka” (available in Latvian language).

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