Omada Capital Still Seeking to Buy Defunct Snoras Bankas Assets

Omada Capital, a London-based investment fund, said it plans to submit an application to buy units of failed Lithuanian lender Bankas Snoras AB after another bidder was rejected by the central bank.

“We hope to submit our own application within the next three to four weeks” to acquire Snoras’s leasing unit and the Finasta Group, which controls an investment bank, Peter Hellman, a partner at Omada, said today by phone.

Lithuania’s central bank rejected an unnamed investor’s request for approval to buy the assets, the Baltic News Service reported Jan. 21, citing the bank’s administrator Neil Cooper.

-- Editors: Andrew Langley, Jeffrey Donovan

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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