Arco Vara
Arco Vara Group increased its shareholding in Latvian subsidiary Arco Development SIA
Arco Vara / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Arco Investeeringute AS, a 100 per cent subsidiary of Arco Vara AS, increased its shareholding in Arco Development SIA from 80 per cent to 99.99 per cent. It was a non-cash transaction because Arco Vara converted some of its subordinated loans to equity. 0.01 per cent of the shares belongs to Mr. Viktors Savins. Arco Vara is one of the leading real estate developer in the Baltic's, operating also in Ukraine and Bulgaria. Core business is real estate development supported by brokerage network, construction arm and property management. The company has offices in 17 cities and employs ca 250 people. Arco Vara AS is listed on Tallinn Stock Exchange. Heigo Metsoja CFO Arco Vara AS phone: +372 614 4654 heigo.metsoja@arcovara.ee www.arcorealestate.com News Source: NASDAQ OMX 21.07.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Arco Vara Estonia Phone: Fax: E-mail: Internet: ISIN: EE3100034653 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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