The Competition Council has made a decision to approve the merger, allowing IPAS INDEXO to gain significant influence over AS DelfinGroup. IPAS INDEXO, the parent company of the INDEXO financial services group, is currently preparing to make a voluntary share buyback offer to AS DelfinGroup shareholders with the aim of acquiring a majority stake in the company.
In addition to the approval from the Competition Council, the offer still requires consent from INDEXO shareholders and approval from the Bank of Latvia for the offer prospectus.
As part of the transaction, DelfinGroup shareholders will be offered the option to exchange each AS DelfinGroup share they own for 0.136986 INDEXO shares. As a second option, DelfinGroup shareholders will be offered to sell their shares for a price of EUR 1.30 per share. A third option is also available – to retain their existing DelfinGroup shares and continue participating in the company’s development.
The largest shareholders of DelfinGroup have expressed support for the share exchange and the transaction overall, strengthening confidence that the proposed goal will be achieved.
About INDEXO
INDEXO is a financial services group that includes pension management companies and INDEXO Bank.
INDEXO, an investment management company licensed by the Bank of Latvia, offers modern 2nd and 3rd pillar pension plans in Latvia. It is one of the fastest-growing pension managers in the Baltics, with almost 145 thousand customers and more than EUR 1.4 billion assets under management.
INDEXO Bank, a credit institution licensed by the European Central Bank, serves over 41 thousand clients, with total client funds amounting to EUR 51,8 million and EUR 22,2 million in issued consumer loans.
Founded and headquartered in Latvia, INDEXO is a Nasdaq Riga-listed company with around 7,000 shareholders. Its mission is to fight for a better financial environment in Latvia and strengthen the well-being of Latvian residents by providing modern and personalized financial services.
For more information visit www.indexo.lv.