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Snoras Creditors Pick Investor for Finasta, Leasing Unit

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Aug. 24 (Bloomberg) -- The Bankas Snoras AB’s creditors committee picked an investor to buy the bank’s leasing unit and Finasta Bank AB.

The creditors received bids from four potential investors, Aurelija Mazintiene, the chairwoman of the creditors committee, said in an e-mailed statement today. The investor will still require an approval from Lithuania’s central bank. The size of the transaction and the buyer’s name will be disclosed later, it said.

The central bank took over Snoras, once Lithuania’s third-biggest bank by deposits, in November after discovering that assets reported on its balance sheet were missing. The lender was declared bankrupt.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

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

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