The final approval for the sale of the state-owned chunk of Citadele commercial bank to international investor group Ripplewood Advisors LLC came through Wednesday with a favorable ruling from the European Central Bank (ECB).
But the final go-ahead is actually still in the hands of sector regulators in Lithuania and Switzerland, where Citadele bank has subsidiary branch companies that must also get approval. The decisions from Swiss and Lithuanian financial market authorities are expected to be pending soon.
The Financial and Capital Markets Commission (FKTK) had previously told LTV this was the first case of a transaction requiring approval from the ECB not just from various national banks.
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