2013-01-08 12:06

Snoras' creditors to return to Finasta sale

The Bank of Lithuania's statement that the sale of Finasta Bank is one of the three key tasks this year indicates that the committee of Snoras' creditors will have to return to this issue, since the investor it selected last year has so far made no formal request to the central bank, the Eversus.lt news portal reports.
„Snoras“
„Snoras“ / Irmanto Gelūno / BNS nuotr.
Temos: 1 „Editors“

Aurelija Mažintienė, the chairwoman of the creditors' committee, says that all potential buyers on the list approved by the committee could sign purchase and sale agreements.

"Until a deal on the sale of the shares with the first-ranked potential buyer has been closed, all other potential buyers are realistic candidates to acquire the shares in the above-mentioned companies," she said when asked if a new bidding process would be launched.

The agenda for the committee's 17 January meeting has not yet been set. It is not ruled out that the sale of Finasta could be among the items.

On 23 August last year, the creditors' committee voted unanimously on the sale of Finasta, Finasta Holding, and Snoro Lizingas (Snoras Leasing) by ranking potential investors based on the best financial offers, but the bank still remains unsold.

According to Eversus.lt, a Lithuanian-registered international consortium owned by Belgians was then chosen as the winning bidder. However, the central bank keeps insisting that it has not received any application from that investor regarding Finasta.

Financial analysts say that a new bidding process for Finasta and other companies put up for sale along with the bank may have to be launched, because if the selected investor has not turned to the central bank by now, it is unlikely to ever do so.

Report mistake
Successfully sent
Thank you