OREANDA-NEWS. On October 29, 2015 JSC “Ventspils nafta” ("Ventspils Nafta" or "the Group") received a notifications from “Euromin Holdings (Cyprus) Limited” ("Euromin") regarding the acquisition of a significant direct shareholding in “Ventspils nafta” and “Vitol R&M” SA regarding the acquisition of a significant indirect shareholding in “Ventspils nafta”. 

According to both notifications, attached hereto, on October 23, 2015 “Vitol R&M” SA indirectly within "Ventspils Nafta" mandatory share buyout offer has acquired additional 4 702 814 shares of the Group. “Vitol R&M” SA now indirectly owns 103 072 879 shares, equivalent to 98.65% of the Group's total voting capital.  Shares were directly acquired by “Euromin Holdings (Cyprus) Limited”, a 100% subsidiary of “Vitol R&M” SA.

About JSC “Ventspils nafta” 

JSC “Ventspils nafta” is one of the largest groups of companies in Latvia and works in the petroleum product transport, transhipment, storage and shipping sector. JSC “Ventspils” nafta is the Group’s parent company, which manages investments in subsidiary companies, by promoting the Group’s joint values and growth in value of each individual company.

JSC “Ventspils nafta” owns 51% in “Ventspils nafta terminals” Ltd, which is the largest crude oil and petroleum product terminal in the Baltics; 66% in “LatRosTrans” Ltd, which is a Latvian-Russian joint venture in the Baltics; 49.94% in JSC “Latvijas kugnieciba”, which is among the largest ship owners in the world in the medium-sized and handy tankers category. 

Shares of JSC “Ventspils nafta” (NASDAQ RIGA: VNF1R) are quoted in the Baltic Main List of the stock exchange NASDAQ Riga since October 20, 1998.