The enterprise Promola of the Hanner Group acquired the real estate located at the territory of Žalgiris Stadium in Vilnius previously owned by the subsidiary companies of Šiaulių Bankas. The total value of the transactions exceeds EUR 40 million (VAT is not included), Šiaulių Bankas said in a statement.
Žalgiris Stadium
© DELFI / Šarūnas Mažeika

"The intensive sales process led to a mutual agreement with the enterprise Promola of the Hanner Group, a company that provided the best tender," said Chief Executive Officer of Šiaulių Bankas Vytautas Sinius.

The enterprise Hanner is planning to construct commercial and residential buildings on the acquired area of 8ha located within Olimpiečių, Rinktinės and Šeimyniškių streets.

The real estate located just outside central Vilnius was assumed by Šiaulių Bankas from failed Ūkio Bankas at the beginning of 2013. Prior to this transaction, the assets were administrated by the bank's subsidiary companies - Žalgirio Sporto Arena UAB, Investicinio Turto Valdymas UAB and Trade Project UAB.

Nauseda will ask for significant EU funding for climate goals

Lithuanian President Gitanas Nauseda , currently in Brussels, said on Friday he would seek to ensure...

Over EUR 11 mln offered for central post building in Vilnius

11.22 million euros has been offered for the historic central post office building in central...

Lithuania gets message on Belarus' N-plant included in EU climate change plan

Lithuania managed to get an indirect message to Belarus on safety standards at its...

Baltic farmers stage protest in Brussels to demand higher payments

Several dozen farmers from Lithuania, Latvia and Estonia staged a protest in Brussels on Thursday...

New child benefit scenario: 60 and 100 euros all year

The ruling parties in Lithuania are once again changing its plan on child benefit payments for the...