Last Year "Prudentia" Group had a Turnover of over One Million Lats
23 April 2012
In 2011, the investment bank Prudentia and its subsidiaries had total turnover of 1.075 million and a group corporate profit accounted for nearly 232 thousand lats, IBS "Prudentia" partner and CEO Kārlis Krastiņš informed the business portal "Nozare.lv" . "Our actions in 2011 were positive as we have closed five major business deals and strengthened our position as a leading provider of investment banking services in Latvia. Especially we are pleased about cooperation with the Latvian Government and the Ministry of Transport," - said Krastins.
"In addition, the company successfully launched a new business direction in the field of consulting services in the procurement of electricity, which justified the liberalization of the electricity market", - explained Krastins.
In 2011 the company completed a number of successful transactions, such as the sale process of leading Latvian news portal "TV NET" to Scandinavian media group "Schibsted", consulted the shareholders of the largest milk processing Latvian enterprise JSC "Rīgas Piena kombināts” in the process of attracting investors, advised buyers of second largest milk processing enterprise in Latvia, JSC "Valmieras Piens" and also was adviser to the government of Latvia on strategic issues concerning the leading Central and Eastern Europe airlines AS "Air Baltic Corporation", and provided strategic advice to the one of the leading alternative provider of telecommunication services "Stream Networks ", as well as other consulting services where provided.
2012 has been marked by new challenges and problems in European financial markets, investors are still worried about debts and economic problems of European countries. At the same time, European and Baltic M&A (mergers and acquisitions) market has recovered from the crisis, but it is still fragile and depends on the overall economic situation. However, investors' interest in Latvia is still growing, as it is fully restored confidence of international investors, the consolidated public finances and their actions contributed to improving the credit rating to investment grade "- said Krastins.