ABLV Bank Bought Pillar Investment Group Shares

Riga, Latvia, December 20, 2016, 15:22 / Investments

ABLV Bank, AS bought 13 200 000 Pillar Investment Group, AS shares from Pillar Holding Company, KS. Respectively, ABLV Bank, AS has acquired qualifying holding — 88 % — in Pillar Investment Group, AS as of 16 December this year.

Pillar Investment Group, AS aims at investing its own funds and the funds of third parties in commercial properties, as well as at managing its commercial property portfolio to increase rental income and property value in the long-term.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s major shareholders Oļegs Fiļs, Ernests Bernis and Nika Berne directly and indirectly hold 86.55 % of the Bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; Pillar Development, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, Limassol, and New York.