OREANDA-NEWS. September 11, 2013. Neil Cooper, Bankruptcy Administrator of BAB bankas SNORAS (bankrupt), today confirms that a preliminary agreement has been reached over the sale of Snoras Media shares. 

The transaction will complete once the necessary approvals from the Competition authorities have been obtained and other closing conditions have been fulfilled.

100 % shares of  JSC "Snoras Media" will be sold to JSC "BIG group", a fully owned subsidiary of JSC "Fragrances International".  Further details will be provided once the Competition Council clearance and other preconditions are met, and sale completes.

Commenting on the sale process, Neil Cooper, Bankruptcy Administrator said:
"We are pleased to announce that we have agreed terms with JSC "BIG group" and will continue to work hard to ensure the transaction will close as quickly as possible".