Invalda AB completed the process of acquisition of Latvian asset management company Baltikums Asset Management IPAS. Invalda has acquired a 100 pct stake in Baltikums Asset Management, a subsidiary of Latvian bank Akciju Komercbanka Baltikums AS, from the bank, becoming the owner of the subsidiary. <\/p>\n
A deal whereby Invalda sold a stake in Finasta Asset Management AS IPS to Latvian bank Akciju Komercbanka Baltikums AS was also completed last Friday. Meanwhile, closed-end investment funds managed by Finasta asset management will not be transferred to the new owner along with the shares. <\/p>\n
Invalda, which has operated in Latvia\u2019s asset management market since 2006, has acquired the Latvian investment management company in an effort to consolidate its positions in the pension fund market of the neighbouring country. According to Invalda president Darius \u0160ulnis, asset management is a strategic area of Invalda activities, and the group\u2019s asset management companies have successfully established themselves in Lithuania\u2019s market. The acquired extensive experience is planned to be used in Latvia. In Latvia, Baltikums Asset Management will control two second pillar pension funds and six investment funds (including three closed-end funds), with the range of products planned to be expanded in future. <\/p>\n
The value of the deal has not been disclosed. <\/p>\n","protected":false},"excerpt":{"rendered":"
Invalda AB completed the process of acquisition of Latvian asset management company Baltikums Asset Management IPAS. Invalda has acquired a 100 pct stake in Baltikums Asset Management, a subsidiary of..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[6],"class_list":["post-13084","post","type-post","status-publish","format-standard","hentry","category-press-releases","tag-imported"],"acf":[],"yoast_head":"\n