Full recovery unlikely

  • 2013-08-30
  • From wire report
RIGA - It is unlikely that the state will be able to recover 206 million lats (294.2 million euros) invested in the capital of problematic assets manager Reverta as part of the state aid to Parex bank, State Treasurer and Reverta Council Deputy Chairman Kaspars Abolins said in an interview with Nozare.lv. The state aid to Parex bank, now Citadele bank and Reverta, totaled 1.2 billion lats, including initial investments and guarantees.Of this total, 510 million lats has already been recovered. The remaining amount, 708 million lats, includes investments in Citadele bank and Reverta c...
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