AS OPTIVA PANK

ANNOUNCEMENT

27.05.99

 

OPTIVA VARAHALDUS KAASAB STRATEEGILISE INVESTORI

 

AS Optiva Pank and Austrian asset management company East Fund 

Management (EFM) agreed on acquisition of 50% strategic shareholding by 

EFM in AS Optiva Varahaldus (subsidiary of Optiva Pank). EFM is owned 

by the largest public asset management company in the USA, Alliance 

Capital, via its subsidiary Alliance Capital Management (51% 

shareholding) and the largest financial group in Austria, Bank Austria, 

via its subsidiary Capital Invest (49% shareholding). EFM will acquire 

50% of shares of Optiva Varahaldus via increase in the share capital. 

After the respective increase, the share capital of AS Optiva 

Varahaldus will be 12 million EEK.

 

Optiva Varahaldus is 100% owned by Optiva Pank. The company’s main 

fields of activity include administration of private portfolios and 

funds. Optiva Varahaldus currently manages open investment fund Optiva 

Kasvufond, closed privatization investment fund Milleenium and more 

than 30 private portfolios. 

 

Optiva Pank and EFM will sign the agreement to acquire strategic 

holding in Optiva Varahaldus by EFM on June 3, 1999. Before signing the 

agreement, the transaction parties will give a press conference, 

beginning at 11:00 AM in the hall on the VI floor of headquarters of 

Optiva Pank. On June 3, 1999, Optiva Pank will disclose detailed 

information on strategic investor of Optiva Varahaldus, and EFM and its 

owners.

 

 

Ranno Pajuri

Director of Market Communications 

Optiva Pank

Tel. +372 6 302 181