The Competition Council Allows INDEXO to Gain Decisive Influence Over DelfinGroup

The Competition Council has made a decision to approve the merger, allowing IPAS INDEXO to gain significant influence over AS DelfinGroup. IPAS INDEXO, the parent company of the INDEXO financial services group, is currently preparing to make a voluntary share buyback offer to AS DelfinGroup shareholders with the aim of acquiring a majority stake in the company.

In addition to the approval from the Competition Council, the offer still requires consent from INDEXO shareholders and approval from the Bank of Latvia for the offer prospectus.

As part of the transaction, DelfinGroup shareholders will be offered the option to exchange each AS DelfinGroup share they own for 0.136986 INDEXO shares. As a second option, DelfinGroup shareholders will be offered to sell their shares for a price of EUR 1.30 per share. A third option is also available – to retain their existing DelfinGroup shares and continue participating in the company’s development.

The largest shareholders of DelfinGroup have expressed support for the share exchange and the transaction overall, strengthening confidence that the proposed goal will be achieved.