TEGOS advised bank Snoras in the sale of the so-called “Cayman” loan portfolio to Volandia Reserve Limited.
TEGOS lawyers advised Snoras in all legal matters related to the transaction, as well as the overall project management. The firm led the process on behalf of the client and coordinated the work of employees of the bank. TGS Baltic team prepared marketing materials and contacts with potential investors for negotiations, drafted transaction documents and closed the transaction.
TEGOS team – Partners Marius Matonis, Vilius Bernatonis and Agnius Pilipavičius, Associate Partner Neringa Gražinytė and Associates Giedrius Svidras and Donatas Šliora – were advisors to BAB Snoras and Volandia Reserve Limited in this process on all related legal issues.
AB bankas Snoras was a commercial bank, founded in Lithuania and operating in all the three Baltic States. It was a member of the financial group Konversbank and was listed on the NASDAQ OMX Vilnius stock exchange. It was recognized as the best bank in Lithuania in 2006 by financial publisher The Banker. In 2009, the bank’s total assets amounted to LTL 9,032 million.
