Rietumu Banka has granted a loan of 6.5 million to EfTEN Logistics enterprise. The provided financing is intended for the refinancing of the company's existing obligations aimed at ensuring the development of the logistics park "EfTEN Logistics Ķekava".
“EfTEN Logistics Ķekava” is one of the largest logistics parks in Latvia, which offers office, sales and warehouse space for rent in an area of 37.5 thousand square meters. Rietumu Banka’s loan will allow the company to refinance its current obligations for the purchase of these premises, thus contributing to its future growth.
"The logistics industry
is often referred to as the artery of the national economy, which connects manufacturers
and traders, urban and rural regions, Latvia and its export markets. Today, the
development of logistics centres is the basis for the growth of many other
sectors, creating new jobs in the national economy and increasing
competitiveness, thus promoting a sustainable economic growth. We highly
appreciate the professionalism and scale of operations of EfTEN Logistics and
believe that this transaction will bring added value to the economy as a
whole," says Jeļena Buraja, Chairman of the Board of Rietumu Banka.
"Along with energy price fluctuations, which we face as a new global reality, predictability and safety are becoming more and more important in the logistics sector. We are pleased to cooperate with Rietumu Banka, which professionally delved into our needs and provided the necessary support to ensure the stable development of our company by refinancing existing obligations. Our goal is to continue to strengthen our company and increase its capacity," says Viktors Savins, Member of the Board of EfTEN Logistics.
The logistics park "EfTEN Logistics Ķekava" is located in the Ķekava region, in a strategic location with convenient traffic flow – 20 km from Riga with free access to both the Bauska highway and the Riga bypass.
The owner of LLC EfTEN Logistics is EfTEN Capital, the largest real estate fund manager in the Baltics, licensed by the Estonian Financial Supervisory Authority. EfTEN Capital manages eight real estate investment funds and has offices in all Baltic countries.
JSC Rietumu Banka has concluded a financing transaction, within which LTD Energy Investments, a special purpose company created by the management team of JSC Latvijas Gāze, acquired a 28.97% stake in Latvijas Gāze from the Luxembourg investment fund Marguerite Gas II.
