On Tuesday, a contract was signed for the sale of 49.99% of the shares of JSC "Riga International Bus Station" to a certain LLC "Rivaro Holding"; the half of the station was valued at 3.82 million euros.
The LLC promises that the operations of the Riga International Bus Station will be maintained at its current location, with more than 5 million euros to be invested in it. By the way, the Jelgava Bus Station is also included with the Riga Bus Station.
"Rivaro Holding" is equally owned by Sergey and Vasily Serdyukov. Sergey Serdyukov previously owned 25.41% of the shares of the Riga International Bus Station and is also a member of the company's board.
As explained by the chairperson of the board of "Rīgas satiksme" Jineta Innusa, this half of the station was sold according to the decision of the Riga City Council to cease participation in station activities and focus on the core business of the company — providing public transport services.
In turn, co-owner of "Rivaro Holding" Vasily Serdyukov noted that he views the Riga International Bus Station as an important part of the future transport hub of Riga — closely connected with the "Rail Baltica" railway, which will not appear in Riga in the foreseeable future.
The sale process was organized by the auditing and business consulting company SIA "KPMG Baltics".
As explained by Arthur Petrov, a partner at "KPMG Baltics" in the business consulting direction, during the sale, contacts were established with 109 potential investors in Latvia and Europe. Interest was low. Out of 109 companies offered to buy the station, only four submitted non-binding proposals, and two submitted binding proposals.
As a result, "Rivaro Holding" was chosen from the two buyers – they promised to offer more money.
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