Invalda INVL, Tesonet Global and Willgrow acquired shares in Šiauliu 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 Šiauliu 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 Šiauliu Bankas.

The EBRD made its first equity investment in Šiauliu 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