Estonian government has increased its holding in Estonian Air to 90% for a new capital injection of EEK 400mn (EUR 25.6mn). Juhan Parts, EconMin in Estonia , said that the company is not buying out Estonian Air, rather than providing capital to the company. The 10% will be owned by SAS, however, at the point when Estonian Air pays back EEK 115mn loan to SAS, Estonian government has pre-emptive right to acquire the remaining 10% at fair market price.
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Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more