SNORAS Group company will become the largest shareholder of UAB “Lietuvos rytas”

On 22 of June this year, the board of the newly established company of AB Bank SNORAS - UAB “SNORO Media Investicijos” - made a decision to invest in the shares of UAB “Lietuvos rytas” and to acquire 34 per cent of the authorised capital of the company.

“The group has accepted a proposition of UAB ”Lietuvos rytas“ to acquire the newly issued shares of UAB ”Lietuvos rytas“. After executing the investment, UAB ”SNORO Media Investicijos“ will become the largest shareholder of UAB ”Lietuvos rytas“, owning 34 per cent of the authorised capital of the company. We have invested in one of the largest media groups operating on the Baltic market. The agreement is concluded on the conditions acceptable for both parties. Being the new shareholder of UAB ”Lietuvos rytas“, we will financially strengthen the company and will create the favourable conditions to increase the value of the company as well as that of our investment,” states Naglis Stancikas, the chairman of the board of UAB “SNORO Media Investicijos”.

UAB “Lietuvos rytas” is the largest Lithuanian mass media group. The national media issues the daily newspaper “Lietuvos rytas”; the group also comprises the national TV channel “Lietuvos rytas” television, the Internet news portal “lrytas.lt”, the magazines “Ekstra”, “Ekstra mergina” and “Moters savaitė”, two printing houses as well as the press delivery services in 20 largest Lithuanian cities.