Our Team Advises Aigars Kesenfelds and ALPPES Capital on a Major Strategic Investment
Our advice included securing approvals of ECB and Bank of Latvia for acquiring a qualifying holding in INDEXO
July 31, 2025
Our team is proud to have advised Aigars Kesenfelds and AS ALPPES Capital on obtaining regulatory approvals from both the European Central Bank and the Bank of Latvia for the acquisition of a qualifying holding in INDEXO, a leading Latvian financial services group, marking a significant transaction in Latvia's banking and finance sector.
Following a successful application process, Aigars Kesenfelds, a well-known multi-sector entrepreneur, received approval from the Bank of Latvia to acquire an indirect qualifying holding in IPAS INDEXO, while AS ALPPES Capital, a family investment company (family office) 100% owned by Aigars Kesenfelds, was approved to acquire a direct qualifying holding. Meanwhile, the European Central Bank approved both Aigars Kesenfelds and AS ALPPES Capital to acquire an indirect qualifying holding in INDEXO Bank.
As a result, Aigars Kesenfelds and AS ALPPES Capital has a qualifying holding of up to 29.99% of capital and voting rights of both IPAS INDEXO and INDEXO Bank. This strategic investment reflects long-term confidence in INDEXO’s vision to reshape Latvia’s financial landscape with modern and competitive banking and pension solutions.
We advised our clients regarding their strategy, the preparation of all necessary documentation and communication with the Bank of Latvia and the European Central Bank. It has been a privilege to support AS ALPPES Capital and Mr. Kesenfelds in this milestone deal. Thank you to our amazing team, led by Eversheds Sutherland Bitāns Head of Financial Institutions and Regulation Practice Sabīne Vilka and Senior Partner Māris Vainovskis, with significant contributions by our Head of Sustainable and Structured Finance Practice Kārlis Jēkabs Īvāns, lawyer Edijs Bierands and legal assistant Baiba Kūle.
As a result, Aigars Kesenfelds and AS ALPPES Capital has a qualifying holding of up to 29.99% of capital and voting rights of both IPAS INDEXO and INDEXO Bank. This strategic investment reflects long-term confidence in INDEXO’s vision to reshape Latvia’s financial landscape with modern and competitive banking and pension solutions.
We advised our clients regarding their strategy, the preparation of all necessary documentation and communication with the Bank of Latvia and the European Central Bank. It has been a privilege to support AS ALPPES Capital and Mr. Kesenfelds in this milestone deal. Thank you to our amazing team, led by Eversheds Sutherland Bitāns Head of Financial Institutions and Regulation Practice Sabīne Vilka and Senior Partner Māris Vainovskis, with significant contributions by our Head of Sustainable and Structured Finance Practice Kārlis Jēkabs Īvāns, lawyer Edijs Bierands and legal assistant Baiba Kūle.