OREANDA-NEWS. September 04, 2013. SEB banka has assigned long-term financing for the new impulse goods retailer SIA "Plus Punkts" owners SIA "Plus Punkts Holding Ltd" in summer 2013. SIA "Plus Punkts Holding Ltd" attracted additional financing for acquisition deal and working capital from SEB banka.

SIA "Plus Punkts Holding Ltd" becoming the sole owner of SIA "Plus Punkts" in March 2013. To accomplish the deal SIA "Plus Punkts Holding Ltd" purchased SIA "Plus Punkts" shares from the previous shareholders.

Chairman of the Management board at Plus Punkts Svetlana Kiselova: "The aim and strategy is to develop Plus Punkts in Latvia and to build a platform for further development in the Baltic States. Several areas of operation have been nominated in order to raise growth and the efficiency of Plus Punkts: to develop a "fast food" line, to expand the "private label" product range, to review the assortment of products, to open new outlets, operate and carry out logistics from central warehouse, as well as to perform a series of other activities."

Head of Local Corporate Banking at SEB banka in Latvia Kristaps Strazds: "We are glad to support and develop business together with investors, who come with a clearly defined business development strategy. During the recent years SEB banka has been actively supporting M&A (mergers and acquisitions) deals like this with LBO or MBO component (leverage-buy-out/management buy-out), even though there have been relatively little amount of such transactions taking place in Latvia."