2019: Agreement for the acquisition of PNB Banka in Latvia


Roger Tamraz announced to Latvia’s Financial and Capital Market Commission (FCMC, the Latvian regulator), to medias and to Ms Jelena Churko (the Senior Lawyer at AS PNB Banka) and other employees at PNB Banka that he reached an agreement with Grigory Guselnikov to acquire directly and indirectly (through other individuals who will hold shares in his favor and will act with him in concert) this Latvian bank and with Oliver Bramwell to increase its capital. The American tycoon and billionaire provided a commitment letter to cover the entire acquisition price and the entire capital increase with assets in-kind he owns. All the agreements and the acquisition itself remain subject to approval from the European Central Bank which supervises directly the bank.