Invalda INVL, Tesonet Global and Willgrow acquired shares in Šiaulių Bankas
May 31 2024 - 9:00AM
UK Regulatory
Invalda INVL, Tesonet Global and Willgrow acquired shares in
Šiaulių Bankas
On May 31, 2024 the European Bank for Reconstruction and
Development (EBRD) and Invalda INVL, an asset management group,
Tesonet Global (part of the Tesonet group of companies), and
Willgrow, a holding company that owns Girteka Logistics, completed
the planned series of transactions following agreements to sell and
acquire a total of 16.33% stake in Šiaulių Bankas.
After completing all transactions, the
shareholding held by Invalda INVL grew to 19.93%, Willgrow to
8.97%, and Tesonet Global - 5.32%. EBRD’s shareholding decreased to
7.25%. One of the founders of the Bank Algirdas Butkus and related
parties own 5.06%, Gintaras Kateiva and related parties own 4.91%
of shares. The remaining 48.56% of shares are owned by
institutional and retail investors.
"The successfully completed transactions mark a
significant change in the bank's shareholder structure. The
addition of global Lithuanian business leaders Tesonet and Willgrow
as long-term shareholders, alongside Invalda INVL and EBRD,
demonstrates their confidence in the bank's consistent and
sustainable growth and ambitious strategy. We are determined to
create value not only for our main investors, but also for the
entire community of shareholders, of which we already have almost
20,000," says Vytautas Sinius, CEO of Šiaulių Bankas.
The EBRD made its first equity investment in
Šiaulių Bankas in 2005. It has since been supporting the bank
across a range of financing products and solutions.
The separate agreements to sell shares between
the EBRD and Invalda INVL, Tesonet Global and Willgrow were
announced in December, 2021. The process of acquiring shares from
EBRD was carried out through a series of transactions, which now
are finally completed.
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Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt
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