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.

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