Maximus
Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

GE Money Latvia sold

Jun 29, 2011
TBT Staff

GE Money Latvia sold
GE Money Bank was sold to a Russian firm for an undisclosed amount (photo: GE Money Bank Latvia).

RIGA -- GE Money Latvia, the local branch of General Electric's banking business, has been bought out by Russia's "Otkritie Financial Corporation"

"This is a good deal for GE Capital, and is in line with GE’s overall strategy to reduce the size of its financial services balance sheet while remaining fully committed to a smaller more focused GE Capital," Richard Neff, Chairman of the Supervisory Council, GE Money Latvia, said in a press release.

"We believe this transaction is positive news for GE Money Bank Latvia, and will position the Bank for future growth.”

The amount of money involved in the deal has not been disclosed and finalization is still subject to regulatory approval.

ANOTHER ONE GONE

News of the sale comes alongside the final touches on another major bank sale -- that of Estonia's Hansapank to Swedbank.

The deal, finished on June 28, sees the Latvian and Lithuanian branches of the company become official subsidiaries of Swedbank Estonia.

Just under 250 million euros were paid in dividends ans part of the deal, which marks the final stage of Hansapank's sale to Swedbank.

 MORE NEWS
  • US troops to stay in Poland, B...
    U.S. troops will remain in Poland and the Baltic states through 2015 "to dete...
  • Latvia marks one year since su...
    Latvia is marking one year since the collapse of a supermarket roof in Riga that k...
  • NATO chief calls on Russia to ...
    NATO chief Jens Stoltenberg has called on Russia to pull back its troops from east...
  • Russia targeting all Western d...
    Russia's activities in Ukraine are targeted against all Western democracies...
  • New NATO chief set to visit Ba...
    Newly appointed NATO Secretary General Jens Stoltenberg will visit the three Ba...
  • NATO jets intercept Russian pl...
    Two Dutch F16 fighter jets, part of a NATO force patrolling the skies above the...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.