Changes in Structure of the Group ABLV Bank, AS

There were changes in the structure of the Group of ABLV Bank, AS in liquidation in early December 2019. In the result of restructuring New Hanza Capital, AS, the subsidiary of the Company, is becoming a holding company for the part of the Company’s group of companies operating in the field of real estate.

As part of the restructuring, the share capital of New Hanza Capital, AS was increased by issuing of new registered ordinary voting shares. The increase of the fixed capital was registered on December 5 in the commercial register. The total fixed capital of New Hanza Capital, AS is EUR 115 317 119.

“There was a massive work done in order to make this decision, which consolidates the Company’s real estate business lines. Any decision in the course of liquidation is made in order to simply and optimise the investment structure of the former bank, thus contributing to its management efficiency. This has been another important decision, which will make the management of the liquidation process simpler and decision-making more transparent”, – says Andris Kovaļčuks, the liquidator of the Company.

Source: https://www.ablv.com/en/press/2019-12-05-about-changes-in-structure-of-the-group-of-ablv-bank-as-in-liquidation