The Latvian Finance and Capital Market Commission has given permission to Estonian company Skinest Rail to make a final takeover bid for the shares in Latvian train engine repair company Daugavpils Lokomotivju Remonta Rupnica (DLRR). The final buyout price offered for DLRR shares is EUR 0.44 per share.
Skinest Rail directly and indirectly holds 7,955,474 shares or 95.92% in DLRR. DLRR closed the first nine months of 2017 with EUR 16.208 million in turnover, up by 44.8% compared to the same period in 2016, while the group’s loss diminished by 18% year-on-year to EUR 2.043 million.
DLRR is the biggest company in Baltic States, which overhauls and modernises freight and passenger rolling stock and manufactures spare parts.
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