Inbank and Mokilizingas signed a merger agreement
Today, on 15 May 2019 AS Inbank and its subsidiary Akcinė
bendrovė “Mokilizingas” signed a cross-border merger
agreement according to which Mokilizingas will be merged into
As a result of the merger, Mokilizingas will cease to exist and Inbank will be the legal successor of Mokilizingas. All the assets, rights and obligations of Mokilizingas shall be transferred to Inbank on the date of entry of the merger in the Estonian Commercial Register.
The merger will be performed in accordance with the cross‑border merger agreement and the laws of Estonia and Lithuania and will be conditional on the Estonian Financial Supervision Authority and the Bank of Lithuania issuing the necessary authorisations. Obtaining of such authorisations from the Estonian Financial Supervision Authority and Bank of Lithuania shall be deemed conditions precedent for the completion of the merger under the cross-border merger agreement.
The purpose of the merger is to simplify and harmonize the group’s legal structure and to create a more cost-efficient management. In Lithuania, Inbank wishes to continue its operation in a branch structure.
The contemplated merger is an intra-group merger and in the course of the latter, the volume, content and nature of the assets of Inbank group will not be altered. The financial results of the companies involved in the merger have been consolidated on the level of Inbank and made available to all the investors of Inbank via the information system of Nasdaq Tallinn Stock Exchange.
After the merger, Inbank will continue under the business name AS Inbank.
Inbank started its banking activities in 2015 and provides its services through its internet bank and partner network. Inbank is active in Estonian, Latvian, Lithuanian and Polish consumer financing markets. In addition, international deposits are gathered from German, Austrian and Dutch markets.
Head of Marketing and Communication
+372 5348 2436
GlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
- WeConvene and Say Announce Strategic Partnership Bringing New Capabilities to Corporate Access and Investor Communications
- Hotel Equities Tapped to Manage Four Points in Huntersville, nc
- Birch Grove Capital Selects ClearStructure Financial Technologies' Sentry PM as its Portfolio Management Solution
- S&P/Experian Consumer Credit Default Indices Show Composite Rate Unchanged In June 2019
- Quartz™-powered TCS BaNCS™ Network Named Best Blockchain Breakthrough of the Year
- Form 8.3 - [AbbVie Inc.]