SEB Group has granted a EUR 140 million long-term loan to Latvian healthcare and pharmaceutical group AS “AB City” to support the implementation of its development projects. “AB City” is a locally owned Latvian company with a primary focus on the Baltic region, while also expanding into European Union (EU) markets.
“Companies within the “AB City” Group have consistently invested in the development of healthcare services, pharmaceuticals, and manufacturing across the Baltics. Our next strategic step is expansion into EU markets. The Group’s development strategy is focused on strengthening its regional position, improving operational efficiency, and ensuring sustainable growth even in a challenging macroeconomic environment. Therefore, the long-term financing provided by SEB Group is an important instrument that will enable both the refinancing of previous investments and the implementation of planned development projects in the Baltics and other European markets,” says Roberts Tavjevs, Member of the Management Board of AS “AB City”.
The long-term loan provided by SEB will be secured by commercial pledges over assets of companies within the “AB City” Group.
AS “AB City” Group is one of the largest local private capital employers in Latvia, with more than 5,700 employees. In 2024, the Group’s total turnover exceeded EUR 610 million, with EUR 85 million paid in taxes to the Latvian state budget. Between 2022 and the end of 2024, AB City Group companies invested more than EUR 129 million in development projects.
