Delfin Group

M&A Activity • Oct 1, 2020

DelfinGroup acquires a subsidiary

On September 30, 2020, the Enterprise Register of the Republic of Latvia registered acquisition of 100% shares of SIA Banknote commercial properties by SIA DelfinGroup. SIA Banknote commercial properties owns 4 properties. The branches of the Banknote brand are located in three of the properties - two in Jelgava and one in Valka. The balance sheet assets of SIA Banknote commercial properties at acquisition were EUR 112 thousand.

Agris Evertovskis, Chairman of the Board of SIA DelfinGroup, comments on the acquisition: “Most of DelfinGroup's branches are rented properties, but in situations where the owners of the premises are ready to sell them, evaluating certain advantageous offers, the branches are purchased.”

The inclusion of SIA Banknote commercial properties in the SIA DelfinGroup group of companies is part of the company's plan.

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SIA DelfinGroup is a licensed consumer lending company, founded in 2009. The Group represents such brands as Banknote, VIZIA and Riga City Pawnshop. The Group's core services are pawnbroking loans, consumer loans, as well as senior loans, the terms of which are specially adapted for senior consumers. The Group operates in 38 Latvian cities and towns with a total of 87 Banknote branches, and the company is also represented in the digital environment with remote service provision - in the field of consumer loans and an online store. The company employs more than 270 professionals and paid 2.97 million euros in taxes in 2019. SIA DelfinGroup is a member of LAFPA and LTRK and has received the Gold level status of the SRS cooperation program.

Kristaps Bergmanis

Phone: +371 29144168

E-mail address: kristaps.bergmanis@delfingroup.