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Snoras loan portfolio to be sold to an international consortium led by an investment bank
Snoras Bankruptcy Administrator has finished the formal procedures of the sale of Snoras loan portfolio as well as indicated the best offer and thus the potential investor. The negotiations will further proceed with that investor. The international tender for the loan portfolio of LTL 1.6 billion has been carried out in line with necessary procedures to ensure its transparency. The largest asset of Snoras will be sold to an international consortium led by an investment bank which does not intend to disclose its name at the current stage.

"We are pleased to announce that the sale of the Snoras loan portfolio has reached its final phase, and is soon to be completed. In the very first phase we reached out to over 100 international buyers. The good quality of the Snoras loan portfolio has allowed us to negotiate the most beneficial selling conditions possible for the creditors of Snoras bank," stated Neil Cooper, former Snoras Bankruptcy Administrator, who has been in charge of the selection process of the potential investor.
The new Snoras Bankruptcy Administrator Gintaras Adomonis, the Head of UAB Valnetas, who took over the administration on 11th of November, said that he had been informed about the progress in the loan portfolio sale process. "We will aim to finish the process on the best possible terms for Snoras creditors," said Gintaras Adomonis.
The value of the Snoras loan portfolio was determined by an independent professional valuation and includes a significant number of terminated and other non-performing loans.

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