Shareholders of the Lithuanian bank Snoras swapped stakes last week in a series of transactions that saw 83.75 percent of the bank's stock change hands. Three over-the-counter deals worth 42 million litas (12.1 million euros) were registered at the central depository, while the Vilnius Stock Exchange recorded six deals worth 38.4 million litas. Lithuanian media is reporting that the likely buyers were Vladimir Antonov, the bank's council chairman, and Raimontas Baranauskas, bank chairman. Both men were recently given permission to raise their combined ownership in the bank to 93.75 percent.
Latvia's textile industry is unable to utilize some 30 's 40 percent of industry capacity due to a shortage of workers, the Latvian Textile and Clothing Industry Association said. Textile companies currently take only the most profitable orders and reject the rest, the association's president, Guntis Strazds, said. Some of the industry's 130 companies are so strapped for workers that they are unable to ensure a full one-shift working day, he added.
Saku Olletahus, Estonia's leading brewer, announced that earnings in 2006 soared 57 percent year-on-year to reach 118 million kroons (7.5 million euros). Sales grew 19 percent to 772 million kroons. The markets greeted the news with jubilation, and the brewery's share prices jumped 10 percent on Feb. 20. Saku said it has a 46.6 percent share of the Estonian beer market.
