ADON legal advised the stakeholders of ibsettle UAB and PAYMONT, UAB – electronic money institutions (EMIs) licensed in Lithuania – on a multi-party change of their shareholding structure, obtaining the required approval from the Bank of Lithuania.

The transaction involved a coordinated set of changes across multiple entities, structured and notified so that each new qualifying holding cleared the regulatory thresholds under Lithuania’s regime for electronic money institutions. Having reviewed the notifications and supporting information, the Bank of Lithuania did not object to the following acquisitions by Czech-registered companies:


● RONDA PAY a.s. (directly) and RONDA HOLDING a.s. (indirectly) acquiring a qualifying holding exceeding 50% of the share capital and voting rights in ibsettle UAB;
● RONDA PAY a.s. (directly) acquiring a qualifying holding exceeding 50% of the share capital and voting rights in PAYMONT, UAB; and
● Open Sky Finance a.s. (directly) and a private individual (indirectly) acquiring a qualifying holding of more than 30% but less than 50% in PAYMONT, UAB.


The Bank of Lithuania’s decision is available here.

The ADON legal team was led by Donatas Šliora, Marius Matiukas and Akvilė Avulytė.