On 14 April 2026, an agreement was signed for the sale of 49.99% of the shares of AS Riga International Bus Station owned by SIA Rīgas acs to SIA RIVARO Holding for a total transaction amount of EUR 3 820 000. The sale process was organised by the audit and business consulting company SIA KPMG Baltics in cooperation with the law firm KPMG Law ZAB SIA. 

According to information provided by SIA RIVARO Holding, AS Riga International Bus Station will continue to operate at its current location, whilst planning to invest over EUR 5 million in the development of the bus station and strengthening its competitiveness.

Given that one of the shareholders of SIA RIVARO Holding already serves on the board of AS Riga International Bus Station and is also a minority shareholder of the bus station, the buyer understands the steps necessary for the bus station’s successful development. 

"This transaction is a logical step in implementing the Riga City Council’s decision to terminate our shareholding and focus on our core business – providing public transportation services. The sale process was conducted openly and competitively, which allowed us to achieve the most financially advantageous result," emphasises Džineta Innusa, Chair of the Board of Rīgas satiksme.

"We view the Riga International Bus Station as a key component of Riga’s future transportation hub – closely linked to Rail Baltica, the city’s public transportation system, the Central Market, the historic city centre and the development of the entire surrounding area. This object deserves to become a modern and worthy part of the centre of Riga. Our first task is to ensure the company’s stable and uninterrupted operation. Further development must take place gradually – by improving the quality of infrastructure and amenities for passengers and carriers, as well as by strengthening the bus station’s role as a significant urban landmark that Riga residents and visitors can be proud of. We are convinced that such an object can only develop properly through dialogue – in close coordination with the company’s current management, transport sector institutions, and the Riga City Council," notes Vasilijs Serdjukovs, Member of SIA RIVARO Holding.

"As part of the sales process, a targeted and comprehensive outreach to investors was conducted, reaching out to 109 potential investors – both strategic and financial investors in Latvia and Europe. Of these, 7 investors signed confidentiality agreements, 4 submitted non-binding offers, and 2 submitted binding offers. SIA RIVARO Holding was selected as the buyer, having submitted the most financially and strategically advantageous offer," explains Artūrs Petrovs, Partner in the Business Advisory Division at SIA KPMG Baltics.

In addition to approaching individual investors, public information distribution was also provided by announcing the share sale process in the mass media and ensuring that any interested investor could apply to participate in the process. This approach ensured broad competition and a transparent selection process.

In accordance with the requirements of the National Security Law, a change in shareholders in a capital company of significance to national security requires the permit of the Cabinet. In order to complete the transaction, it is still necessary to notify the other shareholders and ensure that they have the opportunity to exercise their preemptive rights, as well as to fulfil other conditions set forth in the agreement, after which the shares will be transferred to the buyer.

Rīgas satiksme owns 100% of the shares in SIA Rīgas acs, which in turn owns 49.99% of the shares in AS Riga International Bus Station. The share disposal transaction is being carried out pursuant to the Riga City Council’s decision of 27 March 2024 regarding the termination of the shareholding. SIA Rīgas acs does not engage in active commercial operations, and following the completion of the share disposal transaction, the company will be liquidated.

Having conducted market research, SIA KPMG Baltics was selected as the organiser of the investment attraction and sale process. Under the terms of the agreement, the consultant was tasked with identifying and securing the most financially advantageous binding offer for SIA Rīgas acs by attracting potential investors and organising the sale process.