Early in January, the potential investor notified the seller that it was withdrawing from the process altogether, the site said. The creditors’ committee, which will convene for a meeting on January 24, will have the final say on a new investor for the bank and the leasing company owned by bankrupt bank Snoras.
It was reported early in January that the investor, which the committee voted for unanimously in August 2012, had withdrawn from the tender. The sources of eversus.lt said that of four bidders, the best bid had been submitted by a Lithuanian-registered international consortium, owned by Belgian businessmen. Rumors had it that the bid was worth around 10 million euros.
According to the sources, the consortium also included a UK company led by former top-level executives of BNP Paribas, AXA, and UBS. The consortium was reportedly interested in Finasta as a platform for building an international investment bank.
Some sources of the news site said that Finasta had been increasingly attracting the attention of foreign investors, including well-known names, of lately, therefore a new tender might secure a better bid and a better price.
Finasta’s management team, a consortium led by Alvydas Zabolis, the managing partner at the private equity and investment banking group Zabolis Partners, Estonia’s financial assets management and investment banking company Redgate Capital and Omada Capital were also mentioned among the potential investors.
Meanwhile, Finasta claims that the decision on the buyer, which the creditors’ committee approved five months ago, has not affected the bank’s operations and its performance.
