Estonia s Apollo Group to become majority owner of Lido restaurant chain
TALLINN, July 12 (LETA BNS) - Apollo Group, Estonia s largest entertainment company, is about to acquire 51 percent of the well-known Latvian restaurant chain Lido.
Apollo is buying the stake in Lido from Mirrow Institute OU, a holding of Ivar Vendelin. The parties will not disclose the price of the deal, which is also subject to the approval of the Estonian and Latvian competition authorities.
Vendelin, who is also a shareholder in Apollo Group, described the acquisition as strategic and said that it is altogether logical to combine Lido as a strong brand with Apollo s existing businesses.
Estonian investor to take over Latvia s famous Lido restaurants
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Apollo Group acquires majority of Lido restaurant chain
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Apollo Group to become majority owner of Lido restaurant chain
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