OREANDA-NEWS. June 09, 2010. AS “Latvijas Krajbanka” (hereinafter referred to as – Krajbanka) has terminated its participation in the joint-stock company “Pirmais atklatais pensiju fonds” (First open pension fund), registration no. 40003377918, by selling all 250 000 shares of AS “Pirmais atklatais pensiju fonds” owned by Krajbanka (comprising 100% of the stock capital) to the company AB Bankas “Finasta”, which is one of the investment group AB “Finasta Holding” companies, reported the press-centre of Latvijas Krajbanka.

It was already informed that in April 2010 Krajbanka concluded the contract with the company AB “Finasta Holding” on sale of the shares of AS “Pirmais atklatais pensiju fonds” owned by Krajbanka. Later the new party AB Bankas “Finasta” acceded to the contract. 

The contract was concluded within implementation of the strategy, developed by Snoras financial group, which foresees that the investment group “Finasta Holding” shall ensure management of all investment assets of the group Snoras (which also owns Krajbanka), thus optimizing development of the investment services offered on the Latvian and Lithuanian market.