Banks, EU – Baltic States, Financial Services, Lithuania
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Thursday, 25.04.2024, 15:32
Now is good time for EBRD to withdraw from Lithuania's Siauliu Bankas
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"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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