2013-10-29
Having assessed a request from the AS LHV Group for the acquisition of the blocks of shares of AB bankas "FINASTA" and of the management company UAB "Finasta Asset Management" and AB FMĮ "FINASTA" within the same group, the Board of the Bank of Lithuania decided not to object to the proposed acquisitions.
Seeking to ensure sound management of the bank "FINASTA", asset management company "Finasta Asset Management" and financial brokerage firm "FINASTA", and considering the acquiring entity's likely impact on these companies, the Bank of Lithuania assessed the eligibility of the acquiring entity based on the financial credibility, good repute and other criteria set in the Law of the Republic of Lithuania on Banks.
Assessment of the provided documents provided no basis for the objection to acquisition by the AS LHV Group of the qualified proportion of the authorised capital and/or voting rights of the bank "FINASTA" and of the companies within the group.
The Board of the Bank of Lithuania also established that if the proposed acquisitions are not implemented by 31 January 2014, the Board's decision on not objecting to the transactions will be repealed.
This resolution of the Board of the Bank of Lithuania does not preclude from the possibility for other investors to apply to the Bank of Lithuania regarding acquisition of the blocks of shares of AB bankas "FINASTA" and the companies within the same group.