One of the leading asset management groups in the Baltic states, Invalda INVL, informs that on 20 June the National Bank of Moldova issued a permission for the international consortium, which besides Invalda INVL also includes the European Bank for Reconstruction and Development (EBRD) and Ukrainian private equity manager Horizon Capital, to acquire a stake of 41.09% in the largest Moldovan bank Moldova-Agroindbank.
To implement the transaction, Invalda INVL will also aim to raise funds from private investors through a newly established specialised venture capital fund by INVL Asset Management.
The Board of Invalda INVL stresses that the transaction to acquire the shares of Moldova-Agroindbank is not finished, therefore more information will be provided once binding documents are signed. The transaction may also not be implemented due to the circumstances beyond the control of Invalda INVL.
Moldova-Agroindbank is the largest commercial bank in Moldova. Assets of the bank at the end of 2017 amounted to EUR 1.078 billion, equity was EUR 180 million.
Invalda INVL group’s companies have more than EUR 600 million of assets under management, entrusted to them by over 190 thousand clients in Lithuania and Latvia as well as international investors.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. It is owned by 66 countries, the EU and the EIB. The Bank is the largest institutional investor in Moldova and has invested over EUR 1.2 billion in over 120 projects in the country to date.
Horizon Capital is a private equity firm managing funds providing financing to businesses in Ukraine and Moldova. Its funds have attracted investments from the EBRD and other investors.
The person authorized to provide additional information:
Darius Sulnis
President of Invalda INVL
E-mail: [email protected]