The total sale price of the shares is EUR 7 million and the price or its part, if applicable, may be adjusted by (a) increasing it by 12% annual interest rate in accordance with the principle agreed between the parties and (b) reducing it by impairment, if any.
Closing of the transaction requires a permission from the Competition Council and other actions agreed by the parties. The transaction is expected to be closed by mid-2022.
The legal advisors of the client were TGS Baltic Partners Dalia Tamašauskaitė-Žilienė, Lauras Butkevičius, Senior Associate Julija Eymirlioglu, Associates Edvinas Einoris and Rūdolfs Vilsons.
The buyer: Civinity, one of the largest building maintenance and engineering solutions groups in the Baltics. The company brings together more than 20 companies that maintain 10 million sq m of residential and commercial property and have installed several thousand engineering systems in a number of European cities.
The seller: Invalda INVL, a leading asset management group, open, growing, investing and creating wealth for people through its activities. The group’s companies in Lithuania and Latvia provide services to more than 250,000 individual and institutional clients in the region and internationally.