EBRD BOARD OF DIRECTORS PERMITS THE BANK TO BUY 41.09% MAIB SHARES

The Board of Directors of the European Bank for Reconstruction and Development approved on Wednesday the bank's participation together with two private investment funds: AB Invalda INVL (Lithuania) and Horizon Capital (USA) in the buying of 41.09% Moldova Agroindbank shares.

The consortium of investors, which received National Bank of Moldova (NBM) permit to buy this package of shares on June 19, is buying it in accordance with legal agreements from the Moldova's Public Property Agency.

The EBRD press release says that the MAIB is Moldova's largest commercial bank. Its assets accounted for 1,078 million euros, while capital - 182 million euros.

The Invalda INVL, headquartered in Vilnius, is administrating assets worth over 600 million euros. It has over 190 thousand clients in Lithuania and Latvia, as well as international investors. The Horizon Capital is a fund that administrates assets and finances businesses in Ukraine and Moldova [for example Vinaria Purcari winery, FinComBank].

The EBRD is a multilateral bank, which contributes to development of private sector and entrepreneurial initiative in 38 countries. It belongs to 66 countries. The EBRD invested over 1.2 billion euros in over 120 projects in Moldova.