Invalda LT - Notification on material event

Consortium of Invalda LT and other investors was chosen for final negotiations to acquire Finasta Banking Group

Vilnius, Lithuania, 2014-10-24 07:43 CEST (GLOBE NEWSWIRE) -- Bank Snoras
Creditors' Committee announced about setting the minimal Finasta Banking Group
selling price and the sale method. Also, the Committee authorised the
Bankruptcy Administrator to complete the negotiations with the best bidder -
consortium of Invalda LT, one of the major companies in Lithuania investing in
other businesses and managing assets, and other investors. 

The completion of the transaction still needs to be approved by the Lithuanian
Competition Council and Latvian Financial and Capital Market Commission. The
signing of the Share Purchase Agreement is also pending. 

Finasta Bank and financial brokerage company should be acquired together with
Audrius Ziugzda and other banking professionals, but the asset management
companies in Lithuania and Latvia should be 100% owned by Invalda LT. 

Finasta group includes Bank Finasta, Finasta Asset Management, financial
brokerage company Finasta and Latvian company Finasta Asset Management. The
equity capital of these companies in the end of 2013 exceeded EUR 7 million
(LTL 24.2 million). 


         The person authorized to provide additional information:
         Darius Sulnis
         President
         Phone +370 5279 0601
         E-mail: Darius@InvaldaLT.com