China, Financial Services, Legislation, Lithuania, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 19:47

Chinese businessman buys Snoras' HQ in Vilnius for EUR 5 mln

BC, Vilnius, 31.08.2017.Print version
Alsana, a company owned by a Chinese businessman, has purchased the headquarters of Snoras, a Lithuanian bank that went bankrupt in 2011, in the center of Vilnius for 5 million euros, informs LETA/BNS.

Snoras' bankruptcy administrator Gintaras Adomonis says that the sale process took time as some buyers found the price too high and others had doubts about adapting the building for their business needs.

 

"At long last, we have an investor who has a vision and the financial capability and who, I hope, will successfully implement his ambitious development plans," he said in a press release on Wednesday.

 

The sale of the headquarters was launched in late 2016, with the initial selling price set at 5.307 million euros.

 

Alsana is 100% owned by Zhan Biao Wang, a Chinese national.

 

Snoras' operations were suspended in November 2011. The bank's former shareholders Vladimir Antonov and Raimondas Baranauskas are hiding from Lithuanian law-enforcement in Russia.






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