OREANDA-NEWS. On May 12, 2008 Akciju sabiedriba "Latvijas Krajbanka" (hereinafter - JSC "Latvijas Krajbanka") has concluded a contract with AS "Parex banka" for the purchase of AP Anlage & privatbank AG shares. The AP Anlage & privatbank AG (registration number CH-130.0.007.738-0, having its legal address at Kantonsstrasse 1, Freienbach 8807, Swiss Confederation) is registered in Switzerland and is focused on individual client service, asset management and investment consultation providing, reported the press-centre of Latvijas Krajbanka.

JSC "Latvijas Krajbanka" provides different financial services both for private persons and legal entities, and it has the widest client service centre network in Latvia. With the acquisition of the bank in Switzerland the JSC "Latvijas Krajbanka" will be able to expand the client service also outside Latvia.

The transaction will be made after the permission from the Swiss Federal Banking Commission is received, but not later than until January 24th 2009. After making the transaction, which includes settlements and settling of legal formalities, the JSC "Latvijas Krajbanka" will become the holder of 100% or 100 000 shares of AP Anlage & privatbank AG, the nominal value of one share is 100 CHF.