Latvian electric equipment producer sells its subsidiary

Riga Electric Machine Building Works (RER), a Baltic company which produces electric equipment for trains, sold its shares in RER-Terminals, after the second participant BSCT Ltd additionally purchased 900 shares of RER-Terminals.
After the process, which was completed on January 19, BSCT Ltd holds 100% of RER-Termināls (11400 shares).
In July 2019, RER shareholders approved the establishment of its subsidiary RER-Terminals, which was registered in August. Initially, it was fully owned by RER, but in September, BSCT acquired an 8.77% stake in RER-Terminals. After the transaction, RER gradually reduced its shares in RER-Terminals.
In the first nine months of 2017, RER turnover increased by 57% to EUR 21.48 million, compared to the same period of 2016.
In 2017, Riga Electric Machine Building Works became a member of the Latvian Chamber of Commerce and Industry.
BSCT’s largest shareholder is UK-registered Silverflow Properties LLP (99,35%).


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