UK merchant bank Omada Capital seen as likely buyer of Lithuania’s Finasta

Sources say that Omada Capital has bid approximately 10 million euros for Finasta group.

Omada Capital is barely known in Lithuania. UK’s market players say that it is an organization of two people who mostly work as advisers but also invest together with their clients occasionally. Most of the funds for investments are provided by clients, the portal reports.

Omada Capital describes itself as a European merchant bank specializing in niche investment banking, asset management, and structured investment services in sectors where the senior management team has a proven track record. It has two partners – Shahram Shoraka and Peter Hellman who have a record of work at US and European investment bank.

Neil Cooper, Snoras’ bankruptcy administrator, said last week that talks with investors on the sale of Finasta group and Snoro Lizingas (Snoras Leasing) were nearing an end.

Finasta posted 26 million litas (EUR 7.5 m) in losses for 2011. Finasta Holding, its sole shareholder, strengthened the bank’s capital with extra 3.8 million litas at the end of March.