Azeri leasing company changes hands
Latvia’s Parex Banka has sold Azerbaijani leasing company Parex Leasing and Factoring to Dutch Switlar Investments. The $3.4 million deal on the sale of Parex Banka’s 100-percent share was signed on Thursday.
"It was the final phase of the negotiations. Today, the full transfer of ownership and other legal documents to the new owner was concluded," CEO Igor Osipenko said after the signing ceremony.
"In the foreseeable future, there is no need for the company's rebranding. We agreed on this matter with our former owners. The company's leadership will not change yet either," Osipenko said.
He said that since 2008 the company has scaled down its operations. "Our operations have not been active on key areas, and no new leasing contracts have been signed."
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