The producer and trader of alcoholic beverages is considering buying a 49% stake in Lido

Although Amber Beverage Group Holding will not acquire a controlling interest after the transaction, the parties to the transaction are considering amending Lido’s Articles of Association so that Amber Beverage Group Holding will have the right to appoint two representatives to the Board.

In addition, Amber Beverage Group Holding could gain the right to veto strategically important decisions.

Following the transaction, Amber Beverage Group Holding could acquire the right to unilaterally manage Lido.

As Rita Auziņa, the Chairman of the Board of JSC “Lido”, said, Gunārs Ķirsons, the shareholder of “Lido”, does not plan to sell the controlling share of the company. At the same time, she pointed out that “Lido” is the largest catering company in Latvia and from time to time investors’ interest in investing in the company’s shares appears. Even now, several investors have expressed interest in becoming shareholders of Lido, replacing the existing minority shareholders.

Publicly known people have breakfast in the new “Lido” shopping park “Alfa”

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In 2018, Lido had a turnover of 41.883 million euros, which is 8.5% more than a year earlier, but the company’s profit decreased 7.3 times and was 241,365 euros. The company’s financial results for 2019 have not been published yet.

Lido was registered in September 1991 and has a share capital of 1.292 million euros. The real beneficiaries of the company are Kirsons and Russian citizen Vladimir Shestakov, who owns the holding company SIA “VSh Holding”.

Amber Beverage Group is an international alcoholic beverage production and distribution group operating from headquarters in Luxembourg, as well as through production and distribution companies in Russia, Mexico, the United Kingdom, Australia, Austria and the Baltics. Amber Beverage Group also includes Latvijas balzams. The real beneficiary of Amber Beverage Group is businessman Yuri Sheffler.