OREANDA-NEWS. After completion of several transactions and due to decreasing number of properties under management, changes have been made in affiliate companies of real estate company Pillar Holding Company, KS, a part of ABLV Group.

Because of considerable decrease in the number of properties in new projects developed by Pillar, the Group made a decision to merge the companies managing such properties. Consequently, Pillar 12, SIA, and Pillar 2 & 14, SIA, were merged, and the new name of company Pillar 2 & 14, SIA, is Pillar 2, 12 & 14, SIA. Correspondingly, a substantial indirect interest of ABLV Bank, AS in Pillar 12, SIA (via Pillar Holding Company, KS) has expired. The changes were registered with the Commercial Register of the Register of Enterprises on 27 May this year.

It should be noted that the new company will also manage the premium-class apartment block developed by Pillar – Miera Park House, located in Riga at 57a Miera Street, which is planned to be commissioned in the middle of this year.

Therewith we inform that on 28 of May in the Commercial Register of the Enterprise Register a new company Pillar Holding Company, KS, a subsidiary company of Pillar 20, SIA, has been registered. Correspondingly, ABLV Bank, AS has obtained a substantial indirect interest in Pillar 20, SIA (via Pillar Holding Company, KS).