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Latvian Shipping Company has disposed it’s interest in AS “Latvijas Naftas tranzīts”

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Latvian Shipping Company has disposed it’s interest in AS “Latvijas Naftas tranzīts”

october 8, 2015 / Latvian Shipping Company

AS “Latvijas kuģniecība” (Latvian Shipping Company or LSC) has sold it’s indirect interest in AS “Latvijas Naftas tranzīts” (LNT) to AS “Ventbunkers”. LSC via it’s subsidiary  SIA“Skonto nafta” owned 16% stake in LNT. The deal value is 15.40 million EUR, which also includes the repayment of loan in the amount of 2.10 million EUR, previously issued to SIA “Skonto nafta” by LNT. Before this deal LSC subsidiary SIA “Nafta Invest” acquired remaining 14% shares of SIA “Skonto nafta” owned by Vladimirs Solomatins and therefore before the deal with AS “Ventbunkers” owned 100% of SIA “Skonto nafta”. The received funds will be used to repay LSC Groups loans received from AS “Ventspils nafta”.