On March 12, Tesonet executed and closed the share sale-purchase agreement with Willgrow UAB (“Willgrow”), acquiring a 2.52% stake in the Bank. This initial transaction brings Tesonet’s current post-closing ownership to 9.86%.

On the same date, Tesonet also signed conditional agreements to acquire additional shares in Artea Bank from multiple existing shareholders. The acquisitions will be executed through a series of transactions and are subject to required regulatory and other approvals. Tesonet aims to complete the transactions by the end of the first quarter of 2027.

Additionally, Tesonet announced its intention to apply for regulatory clearance from the European Central Bank to ultimately acquire a controlling stake in the Bank. Subject to receiving this approval, Tesonet will evaluate further market transactions to achieve a controlling shareholding.

Artea Bank is currently undertaking a comprehensive strategic and technological transformation. Leveraging its experience in building and scaling complex digital-first platforms, Tesonet believes its expertise can meaningfully contribute to accelerating this process if necessary approvals are granted. Tesonet sees significant long-term potential in Artea Bank and is confident that the broader Lithuanian banking sector is poised for disruption and substantial growth.