VILNIUS — International investor group VMHY, which is headed by Briton Peter Hambro, has made a bid of unknown size to buy part of Latvia’s Parex Bank.
Parex Bank, previously the second biggest in Latvia, was nationalized late in 2008 after it ran into difficulties resulting from the financial crisis. The Latvian government and the European Bank for Reconstruction and Development own the bank after they [private_supervisor]bought it from its two owners for two lats (€2.482) a piece and subsequently taking on tens of million of euros of debt.
The group made an offer to the Latvian government for Parex’s asset management business and loans that were issued in CIS countries.
Hambro, who chairs a goldmine in Russia, said investing in the bank at this time was an “interesting” idea and that Riga was a good location for the group’s next investment because of its location between Russia and western Europe.
VMHY wants the clients and investments of the bank’s private capital management division in the Baltic states and CIS, the Parex Asset Management subsidiary and Parex’s private banking and asset management bank AP Anlage und Privatbank, which are located in Switzerland.
Hambro is known for his investments across Europe, Russia and China.
There was concern in Latvia that the previous owners of the bank, Valery Kargin and Viktor Krasovickis, were connected with VMHY, but the group denied the claim.
The two formed owners have persistently shown interest to buy the bank back now that it is in a stable condition again.
VMHY Group is a holding company that owns M2M Private Bank and Asian Pacific Bank (ATB) in Russia. [/private_supervisor] [private_subscription 1 month]bought it from its two owners for two lats (€2.482) a piece and subsequently taking on tens of million of euros of debt.
The group made an offer to the Latvian government for Parex’s asset management business and loans that were issued in CIS countries.
Hambro, who chairs a goldmine in Russia, said investing in the bank at this time was an “interesting” idea and that Riga was a good location for the group’s next investment because of its location between Russia and western Europe.
VMHY wants the clients and investments of the bank’s private capital management division in the Baltic states and CIS, the Parex Asset Management subsidiary and Parex’s private banking and asset management bank AP Anlage und Privatbank, which are located in Switzerland.
Hambro is known for his investments across Europe, Russia and China.
There was concern in Latvia that the previous owners of the bank, Valery Kargin and Viktor Krasovickis, were connected with VMHY, but the group denied the claim.
The two formed owners have persistently shown interest to buy the bank back now that it is in a stable condition again.
VMHY Group is a holding company that owns M2M Private Bank and Asian Pacific Bank (ATB) in Russia. [/private_subscription 1 month] [private_subscription 4 months]bought it from its two owners for two lats (€2.482) a piece and subsequently taking on tens of million of euros of debt.
The group made an offer to the Latvian government for Parex’s asset management business and loans that were issued in CIS countries.
Hambro, who chairs a goldmine in Russia, said investing in the bank at this time was an “interesting” idea and that Riga was a good location for the group’s next investment because of its location between Russia and western Europe.
VMHY wants the clients and investments of the bank’s private capital management division in the Baltic states and CIS, the Parex Asset Management subsidiary and Parex’s private banking and asset management bank AP Anlage und Privatbank, which are located in Switzerland.
Hambro is known for his investments across Europe, Russia and China.
There was concern in Latvia that the previous owners of the bank, Valery Kargin and Viktor Krasovickis, were connected with VMHY, but the group denied the claim.
The two formed owners have persistently shown interest to buy the bank back now that it is in a stable condition again.
VMHY Group is a holding company that owns M2M Private Bank and Asian Pacific Bank (ATB) in Russia. [/private_subscription 4 months] [private_subscription 1 year]bought it from its two owners for two lats (€2.482) a piece and subsequently taking on tens of million of euros of debt.
The group made an offer to the Latvian government for Parex’s asset management business and loans that were issued in CIS countries.
Hambro, who chairs a goldmine in Russia, said investing in the bank at this time was an “interesting” idea and that Riga was a good location for the group’s next investment because of its location between Russia and western Europe.
VMHY wants the clients and investments of the bank’s private capital management division in the Baltic states and CIS, the Parex Asset Management subsidiary and Parex’s private banking and asset management bank AP Anlage und Privatbank, which are located in Switzerland.
Hambro is known for his investments across Europe, Russia and China.
There was concern in Latvia that the previous owners of the bank, Valery Kargin and Viktor Krasovickis, were connected with VMHY, but the group denied the claim.
The two formed owners have persistently shown interest to buy the bank back now that it is in a stable condition again.
VMHY Group is a holding company that owns M2M Private Bank and Asian Pacific Bank (ATB) in Russia. [/private_subscription 1 year]
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