OREANDA-NEWS.  5 January 2015 Invalda LT acquired 100 percent shares in Finasta Asset Management, an asset management company in Latvia. Separate deals were also completed today that increased the owned stake in Lithuanian investment bank Finasta up to 99.99 percent and up to 100 percent in the financial brokerage company Finasta.  

The joint acquisition cost of the Finasta group companies in Lithuania and Latvia, including the amount paid to minority of the shareholders and the expenses paid for the consultants, amounted to EUR 7.35 million.   

Finasta Asset Management in Latvia had 48 thousand clients and managed assets of EUR 45.1 million at the end of 2014. The amount of clients of Finasta Asset Management in Lithuania reached about 50 thousand and assets under management amounted to EUR 134 million at the end of 2014. 

At the end of November 2014 equity of bank Finasta was EUR 6.1 million, assets – EUR 65.4 million.   

Invalda LT in Lithuania also owns MP Pension Funds Baltic, a specialised pension funds management company. MP Pension Funds Baltic had 63 thousand clients and had EUR 96.3 million assets under management at the end of 2014.