Invalda INVL, Tesonet Global and Willgrow acquired shares in Šiaulių Bankas
02 Junho 2023 - 10:39AM
Invalda INVL, Tesonet Global and Willgrow acquired shares in
Šiaulių Bankas
On 22nd December 2021 the European Bank for Reconstruction and
Development (EBRD) announced that it agreed to sell an 18% stake in
Šiaulių Bankas to a group of private investors. The EBRD has signed
separate agreements with Invalda INVL, an asset management group,
Tesonet Global (part of the Tesonet group of companies), and
Willgrow, a holding company that owns Girteka Logistics, to sell
stakes of 5.87%, 5.87% and 6.29% in the Bank respectively. The
process of acquiring shares from EBRD is carried out through a
series of transactions that will last until June 2024.
On 31 May 2023 the second series of transactions
was completed. With this, the shareholding held by Invalda INVL
grew to 9.99%, Willgrow to 7.81%, and Tesonet Global - 3.91%.
EBRD’s shareholding decreased to 14.00%.
"We are proud to see growing local investor base
with the Lithuanian companies increasing their shareholding in
Šiaulių Bankas. There is still a year left to complete the share
acquisition processes, and to this day, out of 18% of the shares
sold by the EBRD, settlement of transactions for 12% have already
taken place," said Vytautas Sinius, CEO of Šiaulių Bankas.
Melis Ekmen Tabojer, Director of the EBRD’s EU
Banks and Structured Finance Department, said: “EBRD will continue
to actively engage and support Šiaulių Bankas on its path of
sustainable growth as part of the EBRD’s long-term strategy in the
Baltic region. We are happy to see many positive changes in the
corporate governance of Šiaulių Bankas over the past years, as well
as continued strong operational performance. This demonstrates
Bank’s resilience, robustness of its strategy and ability to
withstand headwinds.”
Considering the retail business merger
transaction, concluded between Šiaulių Bankas and Invalda INVL on
22nd November 2022, by which 9.39% of the Bank's shares shall be
transferred, after closing the transaction Invalda INVL’s stake in
the Bank shall rise to approximately 20%.
The EBRD made its first equity investment in Šiaulių Bankas in
2005. It has since been supporting the Bank across a range of
financing products and solutions
Additional information: Tomas Varenbergas Director of Treasury
& Markets tomas.varenbergas@sb.lt, +370 5 203 22 00
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