Invalda INVL completes 3rd tranche of acquisition of Šiauliu bankas shares from EBRD

Source: www.gulfoilandgas.com 5/31/2024, Location: Not categorized

Invalda INVL acquired a further 11,733,728 units (1.77%) of the shares of Šiauliu bankas from the European Bank for Reconstruction and Development (EBRD). Value of the transaction is EUR 7 million. After this transaction the Invalda INVL group’s stake in Šiauliu Bankas grew to 19.93%. This was the third and final acquisition tranche under the Share Purchase-Sale Agreement signed with the EBRD on 22 December 2021. The parties then agreed that Invalda INVL will directly and/or indirectly acquire from EBRD 35,240,296 shares of Šiauliu bankas by 31 May 2024 at the latest. The parties have agreed that the initial price for Šiauliu bankas shares shall be EUR 0.633 per share and it will be recalculated during every payment considering dividends paid or other changes in capital by Šiauliu bankas, as well as 5% annual interest calculated from the date of signing the agreement.





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