page_title: Snoras
section_title: Investment in car industry
hierarchical_section_title: Snoras / Investment in car industry
context_page_description: Bankas Snoras AB or simply SNORAS was a commercial bank, founded in Lithuania operating in all three Baltic states. It was a member of the financial group Konversbank and was listed on the NASDAQ OMX Vilnius stock exchange. On November 16, 2011, 100% of the bank shares were nationalized by the Lithuanian government and the bank was placed into temporary administration. On November 24, the bank was declared bankrupt. It had 4 billion litas in debt.
context_section_description: In 2008, Snoras purchased 29.8% of shares of Dutch sports car manufacturer Spyker Cars. In the same year, Snoras sold the stake in Spyker Cars. In 2010, Snoras became sponsor of Renault F1 team.
caption: Snoras logo on Renault F1
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