Board members of Latvijas Gāze purchase a significant part of the company’s shares

The board members of the public joint-stock company Latvijas Gāze, Aigars Kalvītis, Elita Dreimane and Egīls Lapsalis, with the help of their special purpose company Energy Investments, have purchased a significant share of Latvijas Gāze shares, which took place within the framework of the initiated management buy-out process. The purchase transaction took place between the Luxembourg investment fund Marguerite Gas II S.À.RL and Energy Investments for the repurchase of all 28.97% shares owned by the fund Marguerite.

Latvian Gas the management indicates that they believe in the future of the company and that the management buyout process will give an opportunity not only to keep Latvian Gas position as one of the Baltic energy leaders, but also to be a leader of innovative products and services in accordance with the trends of leading international markets. In the new realities of the energy market, there is a need to ensure balanced availability of various energy resources products, while also offering adequate and competitive energy costs to Latvian manufacturing companies. Also, within the framework of a smart and long-term oriented policy, there are all possibilities to ensure the demand of Latvian households without dramatic price increases for gas or other energy sources.