OREANDA-NEWS. May 20, 2013. Neil Cooper, Bankruptcy Administrator of AB Bank SNORAS (bankrupt) confirms that the process of selling the 34% shareholding of “Lietuvos rytas”, one of Lithuania’s largest media groups, is progressing well.

The shares are owned by “SNORAS Media”.

Neil Cooper, Bankruptcy Administrator, said,
“We have already received significant interest in “SNORAS Media”, which is positive news. Indicative bids from interested parties are expected by the end of May 2013. We continue to work hard to ensure that the sale process will deliver the maximum value for creditors.”

About “SNORAS Media”
“SNORAS Media” was established in 2009. On 9 July 2009 JSC “SNORO Media” (formerly – JSC “SNORO Media investicijos”) concluded an agreement on purchasing 34% of shares of “Lietuvos rytas”, one of Lithuania’s largest media groups. The deal was completed on 5 January 2010. JSC “SNORAS Media” is now the largest single shareholder of JSC “Lietuvos rytas”.
 The “Lietuvos rytas” group publishes the daily newspaper “Lietuvos rytas” and the weekly magazine “TV antena”. It also manages the internet news portal www.lrytas.lt and the “Lietuvos rytas” television channel.  The “Lietuvos rytas” group also controls the largest printing house in Lithuania which prints popular Lithuanian newspapers and magazines and provides printing services to third parties.