Tesonet Global Targets to Increase its Interest in Artea Bankas
Artea Bankas, AB (“Artea Bankas” or the “Bank”) was informed by Tesonet Global, UAB (“Tesonet Global”) on March 12, 2026, of its intention to increase the ownership stake in the Bank to up to 31.68% (including the stake, which is currently held by Tesonet Global). For this purpose, Tesonet Global has entered into the transactions, as described below.
On March 12, 2026, Tesonet Global executed and closed the share sale-purchase agreement with Willgrow UAB (“Willgrow”), acquiring a 2.52% stake in the Bank at a purchase price of EUR 1.1012 per share. This initial transaction brings Tesonet Global's current post-closing ownership to 9.86%.
On the same date, Tesonet Global also signed conditional agreements to acquire additional shares in Artea Bankas from multiple existing shareholders. These include agreements to acquire all shares held by Willgrow (representing the remaining 6.59% stake in the Bank), Algirdas Butkus (including related parties, in total holding 5.48% of shares in the Bank), Darius Vyšniauskas (including related parties, in total holding 2.33% of shares in the Bank) and Arvydas Salda (including related parties, in total holding 1.59% of shares in the Bank), and part of shares in the Bank from Gintaras Kateiva (including related parties, selling 4.60% of its shares in the Bank) and from AB “Invalda INVL” (selling 1.22% of its shares in the Bank from its total 19.94% stake).
The purchase price will be determined at closing based on the Bank's most recently disclosed book value per share, multiplied (i) by the number of shares sold by each respective shareholder and (ii) by a coefficient of 1.2x, as set forth in the agreements.
The acquisition of the shares will be executed through a series of transactions and will be subject to regulatory and other necessary approvals (e.g., approvals from the European Central Bank, the Bank of Lithuania, etc.). Tesonet Global aims to complete the transactions under conditional agreements until the end of the first quarter of 2027.
Additionally, Tesonet Global 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 Global will evaluate further market transactions to achieve a controlling shareholding.
Artea Bankas is currently undertaking a comprehensive strategic and technological transformation. Leveraging its experience in building and scaling complex digital-first platforms, Tesonet Global believes its expertise can meaningfully contribute to accelerating this process if necessary approvals are granted. Tesonet Global sees significant long-term potential in Artea Bankas and is certain the broader Lithuanian banking sector is primed for disruption and substantial growth.
Tomas Okmanas, Co-founder of Tesonet Global, said: "We are confident in the trajectory the Bank's team is taking. Our goals remain unchanged – by combining our strengths, we aim to help unlock the bank’s full potential and deliver exceptional long-term value to its customers and the broader market. We are excited about the opportunities ahead and the role we can play as a shareholder in shaping the next stage of growth".
About Tesonet Global
Founded in 2008, Tesonet Global is a global technology company that builds, invests in and accelerates products across cybersecurity, AI, web intelligence, and beyond. The group has scaled globally recognised companies including cybersecurity leaders Nord Security and Surfshark, web intelligence platform Oxylabs, and AI venture nexos.ai, and is an active investor in companies including Hostinger, CASTAI and Turing College. With a strong engineering foundation and a growing portfolio of AI-focused investments, Tesonet Global brings deep operational and technological expertise to its strategic partnerships.
Additional information:
Tomas Varenbergas
Chief Financial Officer
,
