2014-01-30
AS LHV Group has been permitted to manage the affairs of AB bankas Finasta and acquisition of its companies
The Board of the Bank of Lithuania extended until 30 April 2014 the deadline for AS LHV Group, founded in the Republic of Estonia, to acquire the share of qualifying holding in authorised capital and voting rights of AB bankas Finasta, financial brokerage company Finasta and asset management company Finasta Asset Management, which would allow AS LHV Group to have control over these companies.
The deadline has been extended at the request of AS LHV Group. It had informed that negotiations are underway with the bankruptcy administrator of the bankrupting AB bankas SNORAS regarding the commercial conditions for the acquisition of the aforementioned companies; however this will not be done until 31 January 2014, as was previously set by the Board of the Bank of Lithuania.
AS LHV Group, seeking to acquire the aforementioned companies, will have to receive the consent of the creditors of the bankrupting AB bankas SNORAS, perform a legal inspection of companies to be acquired, and, if necessary, receive authorisation from the Competition Council of the Republic of Lithuania.