Vitol steps closer to shipowning

Jun 16 2017

Latvian Tankers confirmed that on 14th June, 2017, JSC ‘Latvijas kugnieciba’ (LSC) received a notification from Vitol Holding, that its wholly owned subsidiary, Vitol Netherlands, had acquired a large shareholding in the company.

According to the statement, Vitol Netherlands has acquired 39,249,118 shares, equivalent to 19.62% of the total voting capital of LSC, for an undisclosed sum with settlement date 15th June, 2017.

Due to the Vitol Group’s existing shareholding of 99,880,361 in LSC, held through its wholly owned indirect subsidiary JSC Ventspils Nafta, the Vitol Group’s total shareholding is now equivalent to 69.56% of the voting capital of LSC.