News
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15.01.2010 The NAV of a GILD Arbitrage Fund Unit as at 31.12.2009
Fund management company of GILD Arbitrage has determined the net asset value (NAV) of a Fund Unit as at the end of 2009 in accordance with the Fund Rules registered by the Financial Supervision Authority last week. The NAV of a Fund Unit is EUR 5,0729 as at 31.12.2009.
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23.12.2009 GILD Arbitrage will have a new Fund Manager, Tõnu Pekk
GILD Bankers has decided to change the management of GILD Arbitrage and strengthen the team of the fund in restoring the value of GILD Arbitrage`s assets. The Fund Manager of GILD Arbitrage will be Tõnu Pekk. Majority of the current team members, including Tõnno Vähk, who has been the Fund Manager thus far, will continue in the strengthened team. Furthermore, GILD Bankers will carry out restructuring of the Group, as part of which AS GILD Fund Management, the fund management company of GILD Arbitrage, will be separated from the Group and the majority owner of the company will be Tõnu Pekk.
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07.12.2009 Tõnis Haavel is leaving the partnership of GILD Bankers
At the recent Quarterly Partners`meeting of GILD Bankers, Partners Tarmo Jüristo and Tõnis Haavel expressed the wish to leave the partnership.
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02.11.2009 GILD Arbitrage to postpone redemptions
On November 2nd, 2009, the Fund Management Company decided to postpone redemptions of GILD Arbitrage as of 4 November 2009 until 4 March 2010, but not longer than until the entry into force of the amendments of the Fund Rules.
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The general meeting of the risk capital fund GILD Arbitrage decided to amend the Fund Rules according to the proposals made by the fund management company. Investors who participated at the General Meeting represented ca 60% of the votes and the restructuring of the fund was supported by over 95% of participants. According to the decision of the General Meeting GILD Arbitrage will be a non-public fixed-term fund.
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15.10.2009 The total value of 100 largest Estonian companies is EUR 8.8 billion
The leading Baltic investment bank GILD Bankers published a new edition of GILD100, the ranking of the most valuable Estonian companies compiled on the basis of the companies` annual reports of 2008. The total estimated equity value of the 100 largest Estonian companies has dropped ca 55 percent from around EUR 19.4bn in 2008 to around EUR 8.8bn in 2008. Over 50% of the most valuable companies are in the foreign hands. The state-owned energy company Eesti Energia with the estimated market value of EUR 1.1 billion is the most valuable Estonian company.
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Alma Littera, the leading book publisher and retailer in Lithuania and the Baltics, has acquired a bookstore chain Baltų Lankų Knygynas. GILD Investment Banking team in Lithuania advised Alma Littera in the transaction.
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30.09.2009 GILD Arbitrage to increase control over investments in Bulgaria
In the interest of investors and creditors, Risk Capital Fund GILD Arbitrage has decided to increase control over the fund’s investments in Bulgaria. GILD Arbitrage has made investments into the Bulgarian real estate sector through the bond issues of Mramori Tehnopark OÜ, Mortsajevo OÜ and Vladaja OÜ. In addition to the liquidity problems related to the current market situation, a delay in changing the comprehensive plan of the Bulgarian capital Sofia has been a major obstacle in executing the investment projects. To better represent the interests of the investors of GILD Arbitrage, Mr Urmas Laur, an experienced professional in the real estate sector, has been nominated to the Management Board of all three issuing companies. At the same time, the fund intends to seek higher participation in the operations of the Bulgarian companies related to the investment projects.
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30.09.2009 Changes in the management of GILD Alternative Funds unit
Tõnis Haavel, GILD Bankers Partner and Head of GILD Alternative Funds unit, has decided to resign from the managerial positions of the fund management companies responsible for the management of GILD’s alternative funds. According to Mr. Haavel, the main reason is that speculations towards him in relation to the investments he has previously made or has contemplated to make, should not affect the work of the unit. One of the Fund Managers of the real estate fund EEREIF, Urmas Laur, will leave the position of the Fund Manager to provide more support to GILD Arbitrage in the management of the hedge fund`s real estate investments.
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30.09.2009 Notice of the General Meeting of Risk Capital Fund GILD Arbitrage
Dear Investor of Risk Capital Fund GILD Arbitrage,
The Management Board of AS GILD Fund Management (registration code 11373715, location and address Tartu mnt 2, 10145 Tallinn) is assembling the General Meeting of Risk Capital Fund GILD Arbitrage`s Unit Holders on 22nd of October 2009 at 10:00 Estonian time (GMT+3) in the Cinamon room 2 of Solaris Centre at the address Estonia pst 9, Tallinn, Estonia.
The registration of unit Holders starts at 9:00 AM (GMT+3).
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22.09.2009 Fund Management Company waived GILD Arbitrage’s fees in total of EUR 1.3 m
As a result of the successful bond issue concluded last week the fund management company of Risk Capital Fund GILD Arbitrage, AS GILD Fund Management, decided to waive all the fees since October 2008 until the beginning of August 2009. According to the rules of the Fund, the fund management fees have been calculated, but not paid in that period. Considering that the total fees in the stated period correspond to the total amount of success fees paid to the fund management company in 2008, by waiving all these fees fund management company returns the success fees for the previous year in the amount of 1.3 million EUR (20 million EEK) to the Fund.
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18.09.2009 GILD Bankers closed its Private Banking business line
GILD Bankers` Partners decided to close the Private Banking business line that provided portfolio management and other consultancy services mostly to Estonian and Lithuanian high net worth individuals during two years of operations. Despite the difficult operational environment GILD Private Banking managed to preserve positive returns in the client portfolios under full management in 2008 and in the first half of 2009. However, negative market developments driven by the financial crisis made it increasingly difficult to develop the business further and involve new clients.
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18.09.2009 GILD Arbitrage`s bond issue was successful
The bond issue of GILD Arbitrage directed to the creditors of the fund was successfully completed, marking the successful conclusion of the restructuring of fund's loan obligations. As a result 99% of claims against GILD Arbitrage were converted to three-year bonds. In total 33 out of 34 loan providers, including all major creditors, subscribed to the bonds in the amount of their claim with the total amount of subscriptions amounting to EUR 22.66 million. Bonds shall be transferred to the securities accounts of the investors, who subscribed to the bonds, on the value date of the bond issue, September 18th, 2009.
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24.08.2009 Hedge fund GILD Arbitrage to hold a general meeting of investors
AS GILD Fund Management, the fund management company of the only Baltic hedge fund GILD Arbitrage decided to change the rules of the fund in July 2009. The aim of these changes is to involve investors more in the decision making processes of the fund and assemble a general meeting of fund unit holders. On August 19th 2009 Estonian Financial Supervision Authority registered the amendments of the fund rules that will come into effect after one month of the corresponding announcement.
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29.04.2009 GILD Arbitrage to postpone subscriptions and redemptions until November 2009
The fund management company of the hedge fund GILD Arbitrage has decided to prolong the postponing of subscriptions and redemptions of GILD Arbitrage further from 5 May 2009 until 3 November 2009, in line with law, fund rules and prospectus. According to Estonian Investment Funds Act GILD Arbitrage can postpone redemptions in total for up to one year. Fund’s investors and the regulator, Estonian Financial Supervision have been notified about the decision.
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31.03.2009 GILD Bankers’ operating profit EUR 5.1 million in 2008
GILD Bankers Group (AS GILD Partners) generated operating profit of EUR 5.1 mln in 2008, remaining on the same level as in 2007, which is thus far the most successful year in the history of GILD Bankers. Majority of the Group's operating profit was derived from fees - in 2008 the net fee income was EUR 10 million, increased 17% compared to 2007. At the end date of 2008, the Group had consolidated assets in the amount of EUR 7.7 million, whereas more than half of them were made up of assets with high liquidity. At the end of the year Group's total liabilities reached EUR 1.1 million and equity EUR 6.6 million.
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Moog Inc., a worldwide designer, manufacturer and integrator of precision control components and systems, has acquired 100% of the stock of Viltechmeda, a Lithuanian-based manufacturer of high-precision syringe infusion pumps, from Hanseatic Capital and a group of Lithuanian private individuals. The purchase was made for EUR 15 million (USD 21 million). In this transaction GILD Bankers advised the selling shareholders and contributed to finding the acquirer through the global M&A International alliance.
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11.12.2008 Recent changes in the management and operation of GILD Bankers
At their recent quarterly meeting GILD Bankers Partners carefully assessed current challenges and potential of the leading Baltic investment bank in all its core markets. To remain competitive and be even stronger in the long term, Partners have agreed upon some changes in the management and operation. According to the unanimous decision of GILD Partners, Partner Tõnis Haavel was elected as the new Head of Alternative Funds unit. At the same time Partners expressed full support to Rain Tamm continuing as the Managing Partner.
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04.11.2008 GILD Arbitrage to postpone redemptions and subscriptions until May 5th 2009
GILD Fund Management, the management company of GILD Arbitrage Risk Capital Fund, has decided according to law and fund terms to postpone the redemptions and subscriptions of GILD Arbitrage fund units as of the end of October 2008 until May 5th 2009, that is six redemption periods of the fund. Fund investors and Estonian Financial Supervision have been notified about the decision.
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31.10.2008 GILD Bankers Private Banking team in Lithuania is joined by Eimantas Viršila
GILD Bankers Private Banking unit welcomes Eimantas Viršila as a valuable addition to the team. Most recently Eimantas Virsila was Head of Institutional Sales at FMI Evli Securities, but he also has international experience of high-net worth clients in the United States and Estonia. As an Investment Director at GILD Private Banking he will focus on managing and safeguarding the assets of private banking clients.
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17.10.2008 Top 100 Estonian companies worth EUR 19.4 billion
The leading Baltic investment bank GILD Bankers has compiled for the second time GILD100, the ranking of the most valuable Estonian companies. Research made by GILD Bankers concluded that the most valuable Estonian company is Swedbank (Hansapank) with the estimated market value of EUR 4.6 billion (EEK 71.7 billion) at the date of 1 January 2008.
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10.10.2008 GILD Bankers wins Euromoney's Best Investment Bank Award for Estonia
Euromoney Liquid Real Estate Magazine, a leading publication of international finance, names GILD Bankers as the best investment bank in Estonia providing investment banking services in the real estate market. This is the very first time for GILD Bankers, the leading pan-Baltic investment banking firm, to win this prestigious award.
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08.10.2008 The leading Baltic investment bank, GILD Bankers opens a door to Nordic countries
GILD appointed Vesa Heikkilä, a former partner of Öhman, as a director and Head of Nordic Investment Banking
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22.09.2008 GILD Bankers awarded as the most competitive in the Estonian financial sector
GILD Bankers was selected as the most competitive Estonian company in the finance sector, according to the Competitiveness Ranking of Estonian Companies 2008. The ranking is compiled by the Estonian Chamber of Commerce and Industry in cooperation with Estonian Employers Confederation and Enterprise Estonia. The ranking is drafted on the basis of companies achievements in 2007.
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17.09.2008 GILD Bankers became the sole owner of GILD Real Estate
Baltic investment bank GILD Bankers and real estate group Uus Maa have decided to change the ownership of the asset management company GILD Real Estate. Previous to this, GILD Bankers (AS GILD Professional Services) owned 50% of GILD Real Estate, but now acquired additional 50% share of the company from Uus Maa, becoming the sole shareholder of GILD Real Estate (AS GILD Property Asset Management). The change allows both companies to focus on activities, where their main strengths lie.
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09.09.2008 GILD Real Estate fund EEREIF was named the Best Real Estate Fund in New Europe
Eastern Europe Real Estate Investment Fund (EEREIF), managed by GILD Real Estate, has won the Best Real Estate Fund 2008 award in the competition of Best Funds in New Europe, a ranking compiled by Business New Europe (BNE) publication. Recently successfully restructured EEREIF has generated average annual net return of 25% to its investors since inception.
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02.09.2008 GILD Bankers advised General Financing in a trade sale to Société Générale Consumer Finance
Société Générale Consumer Finance announced the acquisition of General Financing, a Lithuanian entity specialized in consumer credit activities. GILD Bankers, an independent investment bank in Emerging Europe, advised majority shareholders of General Financing.
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21.08.2008 GILD Arbitrage invests into expansion of Enter
Estonian leading digital goods store chain Enter has took on board a new investor GILD Arbitrage, the only multi-strategy hedge fund in the Baltics. By investing EUR 2 mln to Enter ITMarket AS, GILD acquires minority stake in the company. Additional financial resources enable Enter to continue with expanding and growing sales in the Baltics.
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GILD Bankers is a member of M&A International (MAI), the world’s leading alliance of mid-market M&A advisory and investment banking firms with 41 members operating in 40 countries. MAI awards were successfully inaugurated in 2006 to honour individual journalists reporting on international and local M&A activity. In 2007 223 articles were received, submitted by 115 journalists from 24 countries.
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11.07.2008 Euromoney awards GILD Bankers as the Best M&A House in Estonia
Prominent international finance magazine Euromoney recognised the leading independent Baltic investment bank GILD Bankers as the Best M&A House in Estonia in the Euromoney Awards for Excellence 2008. Total of 600 leading banks and other financial institutions from all over the world participated in the selection process this year.
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04.07.2008 GILD sees great potential in the agricultural sector
GILD Bankers advised Agrowill, the largest agricultural investment and development group in the Baltic States, in the successful acquisition of Põlva Agro, one of the largest and most efficient milk farms in Estonia. In addition GILD was the lead manager and bookrunner of Agrowill Group IPO on Vilnius Stock Exchange this spring.
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02.07.2008 Gren Noormets to lead GILD Bankers’ real estate financing projects
GILD Bankers Investment Banking team is joined by Gren Noormets, currently Head of Real Estate Department of Hansabank’s Corporate Banking Division. Starting August 1st, Gren Noormets will manage real estate financing projects in all GILD’s markets, including the Baltic region, Ukraine, Central and Eastern Europe, and the Caucasus. The new professional key player will reinforce GILD’s competence and perspective in the real estate sector.
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30.06.2008 GILD advised Estonian banks in the sale of PKK, Estonian national processor of card transactions
GILD Bankers advised Hansabank (Swedbank), SEB and Danske Bank A/S Estonian Branch (Sampo Bank) in the sale of Pankade Kaardikeskus (PKK), the national processor of card transactions in Estonia. PKK was acquired by Northern European Transaction Services (NETS), one of the leading European processors of card transactions representing primarily acquirers in the Nordic countries.
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13.06.2008 SEB Bankas most respected company in Lithuania
SEB Bankas obtained the title of the Most Respected Lithuanian Company in 2008, according to a contest organised by Lithuanian business daily Verslo inios, TNS Gallup market research company and VRP Hill & Knowlton communication consultants. SEB Bankas is also the Lithuanian company that created the most value, according to a research by GILD Bankers, the leading independent Baltic investment bank.
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26.05.2008 GILD Bankers Latvia enhances capital raising and transaction advisory capacity with Modris Dzelstiņš
GILD Bankers Investment Banking unit is pleased to announce that Modris Dzelstiņš has joined the Latvian team as a Director. Modris Dzelstiņš has more than 10 years of management experience in banking. At GILD, he will focus on delivering structured finance solutions to corporate clients in Latvia.
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22.05.2008 GILD Bankers became a member of the global hedge fund association AIMA
Recently Alternative Funds unit of the leading Baltic investment bank GILD Bankers became a member of the global Alternative Investment Management Association, AIMA. GILD Bankers is the first Baltic company to join the association.
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22.04.2008 NEW - GILD Bankers Annual Review 2007
GILD Bankers Annual Review 2007 covers the most important developments and achievements of GILD Bankers in 2007.
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21.04.2008 GILD funds - a top story on Business New Europe
On April 21st Business New Europe published as one of their top stories a feature on GILD Bankers and GILD alternative funds in particular.
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02.04.2008 Interview with Rain Tamm on Balticbusinessnews.com (BBN)
Rain Tamm, Managing Partner at GILD Bankers was interviewed by readers of Balticbusinessnews.com, a leading online news service in the Baltics.
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02.04.2008 Agrowill Group Stock Enters the Official List
Today, the Vilnius Stock Exchange (VSE) begins trading in the shares of Agrowill Group, an agricultural investor and developer managing the largest and most modern agricultural facilities in Lithuania. The decision to include the securities into the Official List was adopted by the VSE board yesterday after Agrowill Group had met all the eligibility criteria. GILD Bankers acted as the lead manager and bookrunner of the offering.
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28.03.2008 The yearly net return of hedge fund GILD Arbitrage was 22 percent in 2007
Yearly net return of GILD Arbitrage, a hedge fund managed by the leading independent Baltic investment bank GILD Bankers, reached 22.12 percent after all expenses in 2007, the company announced.
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25.03.2008 GILD Bankers operating profit EUR 5.2 million in 2007
According to audited financial results GILD Bankers group (AS GILD Professional Services) in 2007 generated consolidated net fee and commission income of EUR 8.6m and tripled net operating profit to EUR 5.2 mln.
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17.03.2008 GILD Bankers acts as the lead manager of Agrowill Group IPO
Agrowill Group (Group), the largest agricultural group in Lithuania, announces its Initial Public Offering (IPO) which will commence on Monday, 17 March. GILD Bankers acts as the lead manager and bookrunner of the offering, joined by financial brokerage company Finasta as a co-lead manager and underwriter. Nordic investment bank Öhman is a placement agent in the Scandinavian countries. Agrowill Group plans to become the first publicly traded agricultural company in the Baltic states.
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11.03.2008 GILD Bankers advised Moonfish Media in the sale of the company
GILD Bankers advised the owners of the Estonian internet company, Moonfish Media, in the sale of the company to Tradus Limited, the leading European provider of online consumer trading platforms that belongs to a multinational media group Naspers. Tradus is initially acquiring a 51% stake of the company with an option to purchase up to 100% over the next 3-4 years.
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01.02.2008 GILD Bankers performed the sell-side advisory of PULS Brewery
GILD Bankers advised the owner of PULS Brewery in the sale of the company brand and all related rights to Harboe Group, one of the largest beer production groups in the Nordic countries.
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08.01.2008 GILD Arbitrage is the first regulated hedge fund in Estonia
Fund terms of GILD hedge fund GILD Arbitrage were recently approved by the Estonian Financial Supervision Authority. This step made the first and only Baltic hedge fund the first regulated hedge fund in Estonia. Public status of the fund increases the transparency and clarity of fund activities for its investors and enables to involve more institutional investors from other European countries.
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14.12.2007 GILD Bankers helps to select the most respectable companies in Lithuania
GILD Bankers in Lithuania is contributing to a project "Most respectable companies in Lithuania 2008". It is the first time that most respectable companies will be selected in Lithuania. The project foresees complex assessment of both the reputation of participating companies as well as selection and acknowledgement of 50 most respected companies.
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26.11.2007 International investors strengthen the position of job portal CV Keskus in the Baltics
Baltic investment bank GILD Bankers advised one of the most popular Estonian job portals CV Keskus in involving new international shareholders. International investment firms Digital Sky Technologies Limited, Tiger Global Private Investment Partners IV and Bexley International Investments Limited active in global internet businesses acquired initial minority stake of the web company. The transaction supports the strategic goals of CV Keskus to become an equally strong market leader in all Baltic countries.
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20.11.2007 GILD Bankers advised the capital raising for AS Uus Sakala
GILD Bankers advised the real estate development company AS Uus Sakala on the equity and debt capital raising for financing the construction and development of new multipoint urban entertainment and retail centre in the downtown of Tallinn. The equity capital was raised from the Swedish private equity firm Sveafastigheter, with the senior debt being provided by an international property specialist Aareal Bank.
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08.11.2007 Fund management licence enhances GILD Bankers progress in new markets
The Financial Supervision Authority has granted AS GILD Fund Management the licence for the management of risk capital funds. The licence enables GILD Bankers to expand to new markets.
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06.11.2007 GILD TOP 100 ranking the most valuable Estonian companies
For the first time in history GILD Bankers in cooperation with Eesti Ekspress, Tallinn Stock Exchange and Estonian Employers' Confederation compiled a TOP 100 ranking of the most valuable companies in Estonia. Scroll down to find the entire GILD TOP 100.
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26.10.2007 GILD Bankers advised on the sale of Lithuanian café chain Presto
GILD Bankers advised the shareholders of Presto in the sale of 100% shares to Iceland's Coffee Holding. Coffee Holding, which is the owner of Latvia's largest coffee producer Melna Kafija, is about to extend its coffee and café business to Lithuania.
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26.10.2007 GILD Bankers expands to London with a new partner Tomas Marcinkus
Investment bank GILD Bankers operating already in five countries will open an office in London to be led by Tomas Marcinkus, a new partner at GILD. Tomas has over eleven years of investment and merchant banking experience in Central and Eastern Europe. At GILD, he will develop a merchant banking business line to complement GILD`s existing Corporate Finance services, and management of alternative investment funds.
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11.10.2007 Estonia`s most valuable company is Hansapank
Baltic investment bank GILD Bankers in cooperation with Eesti Ekspress, Tallinn Stock Exchange and Estonian Employers' Confederation compiled a TOP 100 ranking of the most valuable companies in Estonia. Research made by GILD Bankers concluded that the biggest Estonian company is Hansapank with the estimated market value of EUR 6 billion (EEK 89 billion).
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05.10.2007 GILD Bankers advised the sale of minority shares of ELKE Group
GILD Bankers advised Mr. Vello Väinsalu, the minority shareholder of ELKE Group (“ELKE”), in the sale of 20% shares of ELKE to an international investment fund Amber Trust II S.C.A.
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04.10.2007 GILD Bankers arranged the sale of a leading Baltic alcoholic beverages distributor of L.I.O.N. & Ko
GILD Bankers advised shareholders of the leading distributor of alcoholic beverages in the Baltics, L.I.O.N. & Ko, in the sale of 100% shares to Liviko AS, a leading alcohol producer in Estonia. L.I.O.N. & Ko has a very strong position in the Baltic markets and this deal will contribute to making the well-established Estonian company Liviko the leading producer and distributor of alcoholic beverages in the region.
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03.10.2007 GILD Bankers advised Lithuanian energy group E-Energija’s expansion to Ukraine
GILD Bankers advised a private Lithuanian energy company E-Energija on attracting EUR 20 million of financing for expansion in Ukraine and strengthening its presence in the Baltic States.
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12.09.2007 GILD TOP 100 ranks the most valuable Estonian companies
Baltic investment bank GILD Bankers in cooperation with weekly newspaper Eesti Ekspress, Tallinn Stock Exchange and Estonian Employer`s Confederation is ranking the most valuable Estonian companies in GILD TOP 100. The first hierarchy of Estonian companies by market value will be published on October 11th.
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03.09.2007 GILD Bankers in Latvia has a new manager Matīss Paegle
Baltic investment bank GILD Bankers is joined by Matīss Paegle who will lead the GILD Corporate Finance team in Latvia. Matīss Paegle has held management positions in the largest Latvian company Latvenergo, SAS Group, IATA (International Air Transport Association) and Air Baltic Corporation. GILD Bankers has a long-term commitment in Latvia that will be developed even further under the new management.
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28.08.2007 GILD Bankers launches private banking headed by Martin Hendre
Baltic investment bank GILD Bankers has created a private banking unit that aims to be the leading independent provider of private banking services in the Baltics within five years. GILD Private Banking unit will be lead by Martin Hendre, who most recently was responsible for investment management at the Sampo Baltic Asset Management AS, an asset management company in the Danske Bank Group. Private banking will be an important additional business line next to GILD`s Corporate Finance services and management of alternative investment funds.
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GILD Bankers advised Koncernas SBA in selling a controlling stake in one of the leading Lithuanian architectural design and engineering firms AB Miestprojektas to COWI Baltic, a fully owned subsidiary of the international engineering consultancy firm COWI A/S as a part of effort to focus SBA activities on core business areas, such as furniture manufacturing and retailing.
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17.05.2007 GILD Bankers acts as co-lead manager in the debut issue of Bankas Snoras Eurobonds
GILD Bankers co-manages the debut issue of EUR 175 million (LTL 604.24 million) issue of Bankas Snoras Eurobonds. Distribution of the debut issue was lead by the London-based investment bank Dresdner Kleinwort.
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02.05.2007 GILD Bankers has new prominent partner firms in Central and Eastern Europe
GILD Bankers recently began cooperation with two leading investment banking firms in Central and Eastern Europe - Capital Partners in Romania and Wood & Company based in the Czech Republic and Slovakia. GILD Bankers, as an active member of M&A International, is pleased to welcome both firms to the largest M&A alliance in the world.
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20.04.2007 GILD Bankers advised the owners of Auto 24 portal in selling their shares
GILD Bankers advised 24 Holding OÜ in the sale of their shares in Auto 24, the largest website advertising used and new vehicles in Estonia. The shares were obtained by a subsidiary of Ilta-Sanomat Oy that belongs to a leading media group in the Nordic region.
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11.04.2007 GILD Bankers received the right to provide all investment services in Estonia
Financial Supervision Authority in Estonia granted investment bank GILD Bankers the right to offer all investment services according to the Estonian Securities Market Act. In addition to existing services it enables to trade in securities in its own name and underwrite securities issues.
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03.04.2007 GILD Bankers is joined by a new partner Mr. Kimmo Irpola
GILD Bankers is proud to announce the inclusion of a new partner Mr. Kimmo Irpola, who has extensive experience in private equity investment management in Finland, Germany and also in the countries of Central and Eastern Europe. At GILD Bankers Mr. Irpola joins the Investment Management team, where he will concentrate on the development and management of a new long-term private equity type investment portfolio.
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GILD Bankers advised the owner and founder of LEC – Mr. Janis Kols – in selling 100% of his shares in one of the biggest construction companies in Latvia. Janis Kols has signed the share purchase agreement with private investment company Alta Capital Partners.
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13.02.2007 GILD Bankers advised MG Baltic in a dual track sale process of AB Lėvuo shares
GILD Bankers advised MG Baltic Investment in a dual-track sale process of 47,89% of AB Lėvuo shares; two sale alternatives were pursued simultaneously – an initial public offering and a direct tender offer.
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05.01.2007 GILD Bankers successfully placed LTL 12 million of AB Malsena bonds
On December 28, 2006, GILD successfully closed a bond issue of AB Malsena, the largest grain processing company in the Baltic States. With these bonds AB Malsena attracted LTL 12 million (approx EEK 54 million) to finance a starch production plant, which is to become fully operational in the 1st quarter of 2007.