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TGS Baltic Advises on ECB Clearance for Medicinos Bankas Acquisition

TGS Baltic Advises on ECB Clearance for Medicinos Bankas Acquisition

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TGS Baltic has advised Konstantinas Karosas, Western Petroleum Limited, and UAB MB Valdymas on obtaining approval from the European Central Bank for the acquisition of the qualifying shareholding and voting rights in UAB Medicinos Bankas.

According to TGS Baltic, this case is particularly interesting as the qualifying shareholding in the bank was acquired through inheritance. In addition, according to the firm, the ECB allowed Konstantinas Karosas to acquire more than 50% of the share capital and voting rights and his company, Western Petroleum Limited, to also acquire the qualifying shareholding and voting rights in the bank. Furthermore, the ECB also approved UAB MB Valdymas’s acquisition of all the voting rights in the general meeting of shareholders of the bank from Karosas and Western Petroleum Limited.

TGS Baltic’s team consisted of Partner Robertas Degesys, Senior Associate Karolina Lapinskaite, and Legal Assistant Kotryna Visockyte.

The firm did not reply to our inquiry about the case.