Together with partners Invalda LT has signed Finasta group share purchase agreement


Vilnius, Lithuania, 2014-11-05 06:30 CET (GLOBE NEWSWIRE) -- Invalda LT, one of the leading companies in Lithuania investing in other businesses and managing assets, together with partners has signed the Finasta group Share Purchase Agreement. A total of EUR 7 million (LTL 24.2 million) will be paid for the Finasta group (the final price may be higher or lower depending on the changes in Finasta bank equity until the final closing of the deal).

Invalda LT will acquire 78.28 percent of both bank Finasta and financial brokerage company Finasta shares and will gain 100 percent of asset management companies Finasta Asset Management in Lithuania and Latvia. The price paid for the shares bought by Invalda LT amounts to EUR 6.131 million (LTL 21.2 million). The final closing of the deal is expected once the relevant permissions from Lithuanian Competition Council and Latvian Financial and Capital Market Commission are obtained. The above mentioned permissions have already been applied for.

Finasta group includes Bank Finasta, Finasta Asset Management, financial brokerage company Finasta and Latvian company Finasta Asset Management. The equity capital of these companies in the end of 2013 amounted to EUR 7 million (LTL 24.2 million). Asset management companies in Lithuania and Latvia have almost 100 thousand clients and about EUR 170 million (LTL 587 million) assets under management.

         The person authorized to provide additional information:
         Darius Sulnis
         President
         Phone +370 5 2790601
         E-mail: Darius@InvaldaLT.com