OREANDA-NEWS. July 21, 2015. Invalda INVL completed the deal and transferred owned shares in Bank Finasta and financial brokerage company Finasta to Siauliu Bankas. Siauliu Bankas issues new share emission in order to complete settlement of the deal for the amount of EUR 6.19 million.

On Friday Invalda INVL subscribed for 21.35 million of new issued shares in Siauliu Bankas for a price EUR 0.29 per share. Siauliu Bankas still needs to receive a permit from Bank of Lithuania to increase share capital.

After completion of the share capital increase, Invalda INVL received 6.79 precent of shares in Siauliu Bankas listed in NASDAQ Vilnius stock exchange.

In the deal 100 percent of shares in Bank Finasta and FBC Finasta are valued EUR 6.19 million. Invalda INVL in the second quarter will book EUR 1.12 million in profits from Finasta shares revaluation.

Brand name Finasta will remain in Invalda INVL group. Invalda INVL will provide wealth management services which are currently provided by the bank Finasta through newly established financial brokerage company INVL Finasta.

Invalda INVL will concentrate in the asset management business and control an asset management companies INVL Asset Management (former - Finasta Asset Management), MP Pension Funds Baltic and Finasta Asset Management in Latvia.