Sale of Controlling Stake in Geonafta

01.01.2011 Sale of Controlling Stake in Geonafta

TGS Baltic represented the client in selling a controllingstake in Lithuania's biggest oil extraction group, Geonafta, to the strategic investor Grupa LOTOS S.

A. The buyer, one of the largest companies in Poland, engages in the extraction and processing of crude oil, as well as wholesale and retail sale of petroleum products. The deal is estimated to be one of the largest in Lithuania in 2010 and was closed after more than two years of negotiations.