Invalda INVL, Tesonet and ME Investicija to acquire 18% stake in Siauliu Bankas from EBRD
Summary
VILNIUS, Lithuania, Dec. 22, 2021 (GLOBE NEWSWIRE) -- Invalda INVL (IVL1L) asset management group, Tesonet technology group, and ME Investicija, a holding company that owns Girteka Logistics, have signed independent agreements with the European Bank for the Reconstruction and Development (EBRD), to acquire a significant part of its current stake in Siauliu Bankas (SAB1L).The agreements foresee the EBRD selling 18.02% of Siauliu Bankas shares to the three buyers in total (c. 5.87% to Invalda INVL; c. 5.87% to Tesonet group (the party to the contract is Nord Security UAB, soon to be renamed Tesonet Global UAB); c. 6.29% to ME Investicija) in a series of transactions, starting at the end of 2021, and ending in mid-2024, part of which may be subject to regulatory approvals. Melis Ekmen Tabojer, Director of EBRDs EU Banks and Structured Finance team, said: Our long-term investment has contributed to Siauliu Bankas development and profitability. According to Tomas Krakauskas, Chief Investment Officer at ME Investicija, this latest increase in the companys shareholding indicates the trust ME Investicija has in Siauliu Bankas business model and its ability to continue to create added value for its clients as well as its shareholders.Krakauskas said: We believe that our experience with the similar investments into financial institutions around the world will contribute to creating a future-oriented bank and we are keen to actively participate as a shareholder to grow the value of Siauliu Bankas.According to the Lithuanian Bank Association, Siauliu Bankas is the fourth largest bank in Lithuania. Siauliu Bankas has been named the best bank in Lithuania by Global Finance Magazine multiple times, including in 2021, when it was also named the best Lithuanian bank by the Financial Times The Banker.Invalda INVL is a leading asset management group which is open and growing, invests with clients, and creates well-being for people through its work. The shares of Invalda INVL have been trading on the Nasdaq Vilnius stock exchange since 1995.Tesonet was founded in 2008 as a startup run by two tech enthusiasts.