COBALT advised its clients on the acquisition of shares in the independent charter airline company Small Planet Airlines UAB (Lithuania) and Small Planet Airlines Sp. z o. o. (Poland) from the aviation services provider Avia Solutions Group. Following the transaction, the shareholding will be owned by the investment group formed from the current management of Small Planet Airlines UAB.
According to the new shareholding structure of the company, Vytautas Kaikaris, CEO of Small Planet Airlines, will own 70 per cent of company shares, 30 per cent will be owned by Andrius Staniulis, Chief Quality Officer of Small Planet Airlines and Board member of Small Planet Airlines Sp. z o. o. The acquisition reflects the company’s ambition to implement its newly adopted strategy and promote its expansion into European markets.
COBALT advice to Small Planet Airlines’ executives included the structuring of the transaction and drafting of the acquisition documents. The transaction was led by Partner Elijus Burgis and Associate Rūta Balkevičiūtė - Mačeikienė.