Agreements regarding sales of the territory of Žalgiris Stadium has been signed


The enterprise Promola of the Hanner Group acquired the real estate located at the territory of Žalgiris Stadium in Vilnius previously owned by the subsidiary companies of Šiaulių Bankas. The total value of the transactions exceeds 40 million euros (VAT is not included).

“The intensive sales process led to a mutual agreement with the enterprise Promola of the Hanner Group, a company that provided the best tender. By selling the real estate objects assumed from Ūkio bankas Šiaulių Bankas aims to focus its activities on the priority area of the rendering of financial services. In turn, it will enable the bank to cooperate with small and medium-sized business in Lithuania more actively and to finance private customers, infrastructure and other eligible projects“, - said Chief Executive Officer of Šiaulių Bankas Vytautas Sinius.

The enterprise Hanner is planning to construct buildings of commercial and residential purpose on the acquired area of 8 ha located within Olimpiečių, Rinktinės and Šeimyniškių streets.

In the coming 8-10 years we are planning to build a new business and administration center with modern buildings, hotels, and premises opened as cafes, restaurants, trading places as well as those rendering other types of services. This is one of the best venues in Vilnius for the projects of such purpose and scope. As a matter of fact, part of the territory stretching nearby the river Nėris is intended to be used as a place for residential constructions. All in all, we are planning to invest about 200 million euros into this project”, - stated Chairman of the Board of Hanner AB Arvydas Avulis.

At this stage of sales the parties agreed on the major terms of the transaction and signed the supporting agreements. The transaction is planned to be completed by the year-end. This transaction is financed from the credit extended by Šiaulių Bankas and from Hanner own funds.  Altogether, five potential investors provided the official tenders with respect to acquisition of the above mentioned territory.

The real estate located at the territory next to the central part of the capital was assumed by Šiaulių Bankas from failed Ūkio Bankas at the beginning of 2013. Prior to this transaction the assets were administrated by the bank’s subsidiary companies – Žalgirio Sporto Arena UAB, Investicinio Turto Valdymas UAB and Trade Project UAB.