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Article: Latvia sells 39% stake in Ventspils Nafta for 105 mln euros.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- October 5, 2006
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Latvia sells 39% stake in Ventspils Nafta for 105 mln euros
RIGA. Oct 5 (Interfax) - The Latvian government sold all of its shares in the Ventspils Nafta (VN) oil holding at an open auction on the Riga Stock Exchange on Thursday, Martins Jaunarajs, head of the investment banking services department at Parex Banka, said following the auction.
The cost of one share was 1.84 lati, he said.
Thus, the government's 38.62% stake in VN cost 74.236 million lati (roughly 105 million euros), according to preliminary data. The consortium of Parex Banka, Suprema Securities and IBS Suprema, which organized the auction, will receive 2.05% of that total.
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