IFLR1000

US private investor group €74 million acquistion of 75% of Citadele banka from Latvian state

20/4/2015
Private acquisition
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€ 74 million

$ 78.491 million

Completed

20/4/2015

Overview:

  • A group of international investors led by Ripplewood Advisors acquired a 75%-minus-one-share stake in Citadele banka from Privatizācijas aģentūra (the Latvian Privatisation Agency) for €74 million.
  • Citadele Banka was a new bank established in the course of restructuring of the failed Parex Banka, which was partly nationalised as a result of financial crisis of 2008.

Jon Moore - Journalist

Jurisdictions:

United States
Switzerland
United Kingdom
Latvia

Deal type:

Private acquisition

Practice area:

M&A

Governing law:

Latvia

Industry sector:

Banking

Firms:
Ellex

Party: Ripplewood Advisors (Acquirer)

Eversheds Sutherland Bitāns

Party: Citadele banka (Target)

Lawyer: Māris Vainovskis

Lenz & Staehelin

Party: Ripplewood Advisors (Acquirer)

Linklaters

Party: Republic of Latvia (Seller)

Slaughter and May

Party: Ripplewood Advisors (Acquirer)

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