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Report: Privatbank cuts stake in Latvian unit following capital hike

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Report: Privatbank cuts stake in Latvian unit following capital hike

reduced itsholding in Latvian unit ASPrivatBank to 46.54% from 50.02%, Interfax Ukraine reported April8, citing a filing by the unit.

Privatbank'sholding in the Latvian unit was reduced following a capital hike carried out bythe latter lender in March, in which the parent did not participate. ASPrivatBank issued 6 million shares with a par value of €1 apiece, increasingits charter capital to about €86.4 million.

Informationabout changes in the holdings of other shareholders was not provided. Prior tothe capital increase, the main shareholders of the Latvian bank included theUkrainian parent; Hennadiy Boholiubov and Ihor Kolomoisky, who each held a 9%stake, as well as Concorde (Bermuda) Ltd., Unimain Holdings Ltd. and WadlessHoldings Ltd., which owned 8.5%, 5.68% and 4.86% of the bank, respectively,according to the report.