E.ON Ruhrgas International, the largest shareholder of Latvijas Gaze, has filed a claim contesting the latter's re-registration to a new commerce register. The Vidzeme District Court said the claim would be considered and that a specific hearing date would be later set. A Ruhrgas spokesperson also filed a complaint against amendments recently made to Latvijas Gaze's articles of association, arguing that they restricted the shareholders' decision-making capacity. In particular, the German company objects to provisions stating that shareholder-meeting decisions on reorganization, operation and bond emissions can only be made when at least 85 percent of the capital is represented. Ruhrgas holds 48 percent of Latvijas Gaze shares.
Germany's Eltern und Kind Kur-Klinik is reportedly interested in building a 293.5 million litas (85.07 million euros) health and rehabilitation center in the resort town of Palanga. Company officials are searching for a 7.5-hectare lot for the project. The center would accommodate sea- and mineral-water pools, a health club, clinic, four-star hotel, park, sports grounds, children's cafe and social entertainment. The 200-room hotel would especially cater to the needs of children and the disabled. A campground accommodating about 100 caravans might also be included.
Eesti Telekom netted 334 million kroons (21.3 million euros) in the fourth quarter of 2004, an increase of 39 percent year-on-year. The group's revenues totaled 1.3 billion kroons, up 3 percent from the same period a year ago, including a profit of 43 million kroons from the majority holding sale of Eltel Networks. Revenues for the whole of 2004 totaled 5.1 billion kroons with a net profit of 994 million kroons 's a 7 percent increase year-on-year. Most of the growth came from mobile-communication operations.
