The value of the deal, which should be finalized in about a month, has not been disclosed.
„We cannot disclose the value of the deal since it has not yet taken place and we are bound by confidentiality obligations. The deal is expected to be closed in about a month,” Aurelija Jonušaitė, the postal operator’s spokeswoman, told BNS.
Meanwhile, Lietuvos Paštas said in a press release that, on Thursday, the committee of Snoras’ creditors approved the method proposed for the chain’s sale by the bank’s bankruptcy administrator.
“Lietuvos Paštas intends to use Snoras’ retail chain for the provision of financial services,” the press release quoted CEO of Lietuvos Paštas Lina Minderienė.
The first minibanks of Lietuvos Paštas should be opened at the end of this year. The company intends to hire about 100 workers for the chain.
Before the collapse, Snoras, once Lithuania’s fifth-biggest bank, had the largest retail banking network in Lithuania with more than 250 branches and customer service outlets, including the kiosks, and over 300 ATMs. Analysts have said that the kiosks alone could fetch around 7 million litas (EUR 2m).