Contact holding broadens its ownership base and strengthens finacial position

February 27, 2012

BaltCap, Swedbank and FR&R Invest have signed a joint investment and restructuring agreement with Contact Holding SIA, the leading local search company in the Baltic region. According to the agreement BaltCap will inject further equity capital and FR&R Invest, a company within the Swedbank group, will acquire and convert part of Swedbank’s outstanding loans into equity. Post-restructuring the equity capital of Contact Holding will be in excess of EUR 8m.