Published: 2019-12-05 09:50:32 CET
Latvijas balzams
Inside information

Information on a significant transaction with the related party

In accordance with the requirements of Section 7 and 10 of Article 59.1of Law on the Financial Instruments Market, the Board of the Joint Stock Company Latvijas balzams (hereinafter also ‘the Company’) informs that as part of the refinancing process, a transaction was concluded with the Swiss bank Credit Suisse AG and group company Amber Beverage Group Holding S.à r.l. Within the frames of the transaction Amber Beverage Group Holding S.à r.l. shall receive the loan at the amount of EUR 27 million, and the Company re-concluded the credit agreements as well as agreements on collateral provided by the Company.

The impact of the transaction on the Company's commercial activities is evaluated as positive. Amber Beverage Group Holding S.à r.l. debt to the Company is expected to decrease.

The transaction is also forecasted to have a positive impact on the shareholders of the Company, which are not considered as related parties to the transaction, as the Company will receive additional income. The Audit committee opinion on the transaction has been obtained.

 

JSC Latvijas balzams

Chairman of the Board

Intars Geidāns