AS Baltic RE Group informs about acquisition of SIA TER Properties shares
AS Baltic RE Group informs that it has reached an agreement with the shareholders of SIA TER Properties (hereinafter – the Company) registration No. 40103881878, to acquire shares of the Company. It is planned that AS Baltic RE Group will acquire 80% shares of share capital of the Company; this transaction will be fully completed within 2017.
AS Baltic RE Group is currently negotiating with the shareholders of SIA TER Properties to purchase the residual share capital of the Company.
After the acquisition of SIA TER Properties shares the Company will be included in the Group structure of AS Baltic RE Group, together with existingAS Baltic RE Group subsidiaries.
The core business activity of SIA TER Properties is management and strategic development of high class properties. Through its fully controlled subsidiary SIA BB 21, SIA TER Properties owns the real estate in Brīvības Boulevard 21, Riga.
The acquisition of SIA TER Properties shares is the first step in developing AS Baltic RE Group strategy to expand its range of activity by investing in properties with high standard and extraordinary historical quality in the neighboring of the Old Town and the Quiet Centre of Riga.
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