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International Internet Magazine. Baltic States news & analytics Wednesday, 08.07.2020, 10:03

Now is good time for EBRD to withdraw from Lithuania's Siauliu Bankas

BC, Vilnius, 26.04.2017.Print version
Now is a good time for the European Bank for Reconstruction and Development (EBRD) to withdraw from the management of Lithuania's Siauliu Bankas, LETA/BNS said according to the Verslo Zinios business daily.

"EBRD withdrawal would now be a rather logical step that would not come as a surprise to many. The international organization has been a shareholder of Siauliu Bankas for a rather long time, therefore, being the shareholder for a long time is not in its policy," an unnamed acquisitions and merger expert told the daily in comment of the EBRD possibilities to leave the bank.

Neither the bank's CEO Vytautas Sinius, nor EBRD representatives were available for a comment to Verslo Zinios about the possible withdrawal of one of Siauliu Bank's biggest shareholders.

In 2005, EBRD made an investment in Siauliu Bankas by purchasing a 16.1-% stake for 20 mln litas (EUR 5.8 mln). As the bank increased its capital at a later stage, EBRD invested more, also converting loans into shares.

At the end of 2016, EBRD owned 18.24% of the bank's shares, which are quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange.

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