Snoras bankruptcy administrator Gintaras Adomonis has finished the formal procedures of the sale of Snoras loan portfolio as well as indicated the best offer and thus the potential investor.
© DELFI / Šarūnas Mažeika

The international tender for the loan portfolio of LTL 1.6 billion (EUR 464 million) has been carried out in line with necessary procedures to ensure its transparency. The largest asset of Snoras will be sold to an international consortium led by an investment bank which does not intend to disclose its name at the current stage, Snoras said in a press release.

"We are pleased to announce that the sale of the Snoras loan portfolio has reached its final phase, and is soon to be completed. In the very first phase we reached out to over 100 international buyers. The good quality of the Snoras loan portfolio has allowed us to negotiate the most beneficial selling conditions possible for the creditors of Snoras bank," stated Neil Cooper, former Snoras bankruptcy administrator, who has been in charge of the selection process of the potential investor.

It is forbidden to copy the text of this publication without a written permission from ELTA.

Ignitis Group plans to delist its subsidiaries from Nasdaq Vilnius

Lithuania's state-owned energy group Ignitis Grupe (former Lietuvos Energija ) is planning to...

Norwegians press exporters to cut prices amid weakening krone

The weakening of Norway 's krone against the euro has not yet hit Lithuanian exports to the...

Lithuanian Post's board refuse to stay on after ministry orders halt to sale of buildings

Independent members of the management board of Lietuvos Pastas ( Lithuanian Post ) have refused to...

Lithuanian gears up for reconstruction of Via Baltica's section until Polish border

Lithuania's Road Administration is getting ready for the 300 million euro worth reconstruction of...

SAI Global to open Centre of Excellence in Vilnius

A multinational leading provider of integrated risk management solutions, assurance and property...