AB Bank SNORAS group sold the shares of the Dutch car manufacturer Spyker Cars N.V.

On 25th December this year, SNORO turto valdymas UAB sold 29.8 per cent of the shares of the Dutch car manufacturer Spyker Cars N.V. to the Republic of Cyprus company Desolery Holdings Limited. The company of AB Bank SNORAS group retains the preferred share which grants additional rights to participate in the company’s activity.

“The yearlong successful cooperation between Bank SNORAS group and the Spyker Cars N.V. – the manufacturer of prestigious cars – brought mutual benefit; therefore, we will expand the partnership after selling the shares. The Dutch car producer straightened up after several unsuccessful years and it regained its recognition in the arenas of car production and motoring sports, while Bank SNORAS group, apart from the financial benefit, ensured the glorification of its name on the international market. From the moment of acquiring the block of shares, it was planned that it would not be a long-term investment of Bank SNORAS group. The share sale transaction was profitable for the bank group,” states Naglis Stancikas, the First Vice-President of AB Bank SNORAS and the director of Investment Business Division.

The block of shares was acquired by Desolery Holdings Limited company registered in the Republic of Cyprus. The company is included in the international group Conversgroup.

SNORO turto valdymas UAB became the main shareholder of Spyker Cars N.V. in January this year when it acquired 29.8 per cent of the company’s shares. Bank SNORAS group investments were designated for increasing the operating capital of Spyker Cars N.V. and releasing two new car models (race-car model Spyker C8 Laviolette GT2R and coupĂ© model Spyker C8 Aileron).

Spyker Cars N.V. partnership with Bank SNORAS group also allowed the car manufacturer to gain significant victories in the international and Lithuanian car races. In the beginning of this year, SNORAS Spyker Squadron team of professional and experienced car racers was formed