OREANDA-NEWS. On 7 March 2015 Siauliu Bankas AB signed a letter of intent with Invalda LT AB regarding the  acquisition  of the bank Finasta AB owned by Invalda LT.

It is planned that Siauliu Bankas AB is to acquire 100 per cent of the shares of the bank Finasta AB for which it will pay in the newly issued shares of Siauliu Bankas AB.

After the negotiations as well as legal and financial inspections it is intended to sign a binding agreement of sale of shares. This deal will require approvals from the banking supervisory authorities and other institutions. Moreover, General Meeting of Shareholders of Siauliu Bankas AB has to pass a resolution to issue a new share issue of the bank and the other actions related to the new share issue must be carried out.