EUR 40 million to be invested into development of "Rimi Baltic"
"Rimi Baltic" and the Nordic Investment Bank have signed an agreement on a EUR 40 million (LVL 28.1 million) loan to finance "Rimi Baltic^apostrofs;s" further expansion in Latvia, Estonia and Lithuania, "Rimi Baltic" chairman of the board, Antonio Soares, told LETA.
"Rimi Baltic" and the Nordic Investment Bank have signed an agreement on a EUR 40 million (LVL 28.1 million) loan to finance "Rimi Baltic's" further expansion in Latvia, Estonia and Lithuania, "Rimi Baltic" chairman of the board, Antonio Soares, told LETA.
The Nordic Investment Bank is one of the largest financial institutions in the region, "Rimi Baltic" is pleased at its partnership with the bank and will continue its successful development in all three Baltic states, said Soares. The company's goal is to achieve the market leader's position in the Baltic states and a market share of 25 percent, he said.
As reported, in early January the company "ICA Baltic AB" and "Kesko Food Ltd." established a joint venture, "Rimi Baltic", that runs three types of stores: hypermarkets "Rimi Hypermarket" and "Citymarket", supermarkets and discount stores "Supernetto" and "Saastumarket".
"Rimi Baltic" has more than 164 stores in the Baltic countries. The company's net sales in 2004 amounted to EUR 690 million.
"Rimi Baltic" employs more than 8,300 people, and "Supernetto" stores in Latvia - 424 people.
Janis Bagatais LETA
Copyright © LETA
The Nordic Investment Bank is one of the largest financial institutions in the region, "Rimi Baltic" is pleased at its partnership with the bank and will continue its successful development in all three Baltic states, said Soares. The company's goal is to achieve the market leader's position in the Baltic states and a market share of 25 percent, he said.
As reported, in early January the company "ICA Baltic AB" and "Kesko Food Ltd." established a joint venture, "Rimi Baltic", that runs three types of stores: hypermarkets "Rimi Hypermarket" and "Citymarket", supermarkets and discount stores "Supernetto" and "Saastumarket".
"Rimi Baltic" has more than 164 stores in the Baltic countries. The company's net sales in 2004 amounted to EUR 690 million.
"Rimi Baltic" employs more than 8,300 people, and "Supernetto" stores in Latvia - 424 people.
Janis Bagatais LETA
Copyright © LETA
