TEGOS helped Tesonet, the investment arm of the founders behind worldwide brands NordVPN, Surfshark and Oxylabs, in a landmark transaction aimed at increasing its shareholding in Artea Bank to up to 31.68% (including the stake currently held by Tesonet), which may ultimately lead to the acquisition of control of the Bank.
The acquisitions will be carried out through a series of transactions and are subject to the required regulatory and other approvals.
“We are confident in the trajectory the Bank’s team is taking. Our goals remain unchanged – by combining our strengths, we aim to unlock the Bank’s full potential and deliver exceptional long‑term value to its customers and the broader market. We are excited about the opportunities ahead and the role we can play as a shareholder in shaping the next stage of growth,” said Tomas Okmanas, co‑founder of Tesonet.
Artea Bank is currently undertaking a comprehensive strategic and technological transformation. With its proven track record in building and scaling complex digital‑first platforms, Tesonet is confident that its expertise can help accelerate the Bank’s transformation, provided the necessary approvals are secured. Tesonet also sees considerable long‑term potential in Artea Bank and expects the wider Lithuanian banking sector to experience significant change and expansion in the coming years.
Tesonet was advised by Žygimantas Stankevičius, Marius Matonis, Vidmantas Drizga, Rasa Blinstrubienė, Paulius Dabulskis and Meda Stankutė.
